This is the builders formula:Expected selling price of the property (minus) sales costs (minus) profit they need to make it worth their while (minus) construction/permit/holding costs = what they have leftover to pay for the lot.They will tell you if it will work or not - don't be afraid to get the property under contract and shop it around.  

I'm afraid it may sit vacant for a while if I chose this option.

@jonholdman @curtdavisI was afraid that was going to be the answer, but I can't say that I disagree.

I'm afraid after this class she wouldn't be much more prepared to earn a living as an active agent...BUT would know the difference between Tenants in Common and Joint Tenants, so at least she has that to fall back on.Anyway, I know that a lot of you are like me and they have put off getting that license for too long.

Cash buyers and people not afraid of work(or hiring contractors) are the best deals, but not everyone can be a cash buyer..When dealing with multifams, you need to be aware of a couple of different things though.

If you go meet someone and they come to know YOU and understand what YOU DO, they are likely to tell people in their COI about you (if they like you, of course; it's hard to be that "likeable" when your trying to get a steep discount - over the phone - on a house you have never seen from a person you have never met.So often, what I see in new investors is FEAR - afraid to talk to sellers, afraid to meet people, afraid to make offers, etc. etc. etc.  

BP is a great resource, but don't be afraid to get your hands dirty.

Hi Konrad,I think you can get much better numbers elsewhere with lower risk.Don't be afraid to low ball.

Congrats @Alejandro Saenz I'm sure you're going to do very well with REI by not being afraid to reach out and make moves.

I've never dealt with probate before so I'm afraid of what I don't know.