Separately, I've noticed that you could build (nearly) turn-key log cabin home kits to put on these plots of lands in the 1000-1250 sq ft range for  ~100K (I say nearly as I'd be doing the roofing, some electrical/some plumbing/minor details-- I have experience with these).

Usually you get stuck paying cash for keys. 

Repetition is the key to learning.11.BONUS – People want to be sold in this way.

I would read that town ordinance and call the rent control board. if they are behind on rent and also you do major reconstruction you should have some out.

The materials used in making these drive the quality and the cost;  - Particle board (and there are different grades of this) is the cheapest  - Plywood is better (again different grades)  - Solid Wood is best (and again different types)Water is the enemy of wood in general and cabinets specifically due to humidity and leaks so I prefer solid wood frame with plywood decks / shelves.

He hasn’t moved any furniture in yet, just took possession of the keys.

@Brent Davis The key to success with 30 year notes and max leverage is insuring you have the savings,  cash flow and adequate number of doors to survive a down turn in the markets.

Im a stickler for the rules though for a few reasons....BP gives me a very public presence....Ive served on my boards grievance/ethics committee...and my broker is the chairman of the state real estate commission. 

The brother who lives on the property was boarding it up yesterday in an attempt to keep her out, but chances are good that won't work and she'll get back in.3. 

Background: We live and work at an all boys boarding school.