Visit all the sites you would normally visit if you were looking for housing.

If it takes much more than 10 years to pay it back (after factoring in my normal cash flow) I don't consider it.

Not sure what normal is.

Tar damage and smells would be considered normal wear in that situation.I would recommend changing the smoking policy immediately.

#1 I would ask....other than that these deals fell in your lap, would you normally invest there? 

Next time, as you will read here, always treat the lease back as a normal rental to a risky tenant.

Best case scenario (or worst case depending on how you look at it) is that the initial price reduction because the sudden influx of build lots hitting market, will be offset by the spike in material and labor prices and you see continued normal growth/appreciation in the market.Its no different than where we are today.

This is normally expressed as a percentage and that percentage is of the ARV.

This is normally expressed as a percentage and that percentage is of the ARV.

@Justin Tylus I know from my clients in Raleigh that the permit office is running slower than normal.