New investors often get into trouble on their first deal because they under estimate the rehab costs for the property.  

@Matt KatsarisDo you know if that website tells you the details of the death?

Yes, you're correct, but let me clarify and add some details.

(Let me know if you want to know all the fancy, interesting details on the process.)

NOW, with my finance background i analyze the properties in a way that makes sense to me with that being said IM REALLY INTERESTED IN LEARNING HOW PEOPLE VIEW AND ANALYZE a "deal". be as detailed as possible on your analysis and how you go about it, your steps and the reasoning behind it. as i see posts come in i will posts how i go about mine so that you guys can critique and also give me pointers.PS: if you guys have deals in northern and central NJ please let me know were looking to close on the right deal ASAP

You could always sell it.Typically, you should be talking to lenders in advance of even buying the property so that you know you'll be able to refi.If the market softens and the appraisal is lower than you current estimated ARV, you will still be able to refi, but you might not be able to pull out "all" of your investment $s.

I have heard there is a way using a land trust but don't know the details. 

My wife and I were working with a realtor who found the deal, but it was her first transaction and totally botched the whole thing, won't go in to details but at the end of the day she didn't want anything to do with it but still wanted her commission.

I've been trying to research raw land loans and from the (granted few) banks I've spoken to, they will not loan on raw land-they recommend getting a personal loan out at a ridiculous rate 10-15% interest (they didn't run my credit, it was just an estimate for a personal loan, but I have very good credit-around 760 I believe), to cover the land and then refinance to a construction loan once there is a well and septic as I understand...So was wondering what other options I had as far as financing and what others have used?  

How much was actual $/sqft compared to your 150/sqft estimate?