I've seen so many newbie investors end up buying land that is unbuildable only to have sell it later at a steep discount once they realize they can't even afford to keep up with the taxes needed to keep the land.For future readers, one common way to evaluate and price land is through the Land Residual Method, which is pretty much a simply formula:Land Value = Developed Value (highest and best use after development) - Cost of DevelopmentIt requires a little work on the agent's part to dig into what the costs and potential developed value will be, but I wouldn't consider it rocket science.

This is a much simpler method.  

I'm planning on replacing all wiring, plumbing & mechanicals so code shouldn't be an issue.

It's not a foolproof method of evaluating neighborhoods, but it's a place to start.

I mean, I know, at least initially, my credit is what matters, but I'm asking about methods to build business credit.So like I asked before, if I sold my house to an LLC, then rented from that LLC, wouldn't that be in part, building business credit for the LLC? 

Welcome to BP Nathan.Anyone looking at Podcast #70, needs to search the forums as that podcast is full of old bad methods and illegal aspects.

Methods: Karl Storz Video Equipment is used.

I'd rather not call a plumbing company since they are simple fixes.  

I use this method for most of my acquisitions.My own cash, line of credit, private party and temporary financing make the acquisition.  

The "conventional" un-conventional method is to buy "subject to" the existing mortgage, flip, then satisfy the existing lien on your sale...