It equals a % and you compare that with similiar properties that have sold in the last year.That would be exhausting and a complete waste of time.  

I follow you and my post wasn't directed at you personally - just a common mentality I've seen amongst REI folks.

I think real estate investing is a mental exercise for most wannabies.

Deliberately have a few challenges in your screening process - it will weed out "entitlement mentality" problems4) Allow payment plans, but create system to track when payments due, so they don't keep falling further behind You will need to call them on due dates or they will fall further behind Be prepared to give a strong NO when asked if you will change rent due dates to "make it easier" for tenants to pay rent based upon their SSI or paycheck dates.

Progess requires action and sometimes action is scary, but as Casey Stengel says "I never make predictions, especially about the future" and "Real estate is 90% mental, the other half is work".

@Justin Thind Renting in "D" neighborhoods is exhausting.

Patricia, thanks for your exhaustive explanation.So we have a choice to hire GC to pull permits for us or pull permit as homeowner/builder correct?

I would exhaust all your free options first before making that large of an investment.

This means when you do want to get credit, you may need to temporarily unlock your credit.The above steps don’t provide guarantees and are not comprehensive or exhaustive, but collectively they can substantially lessen risk.

Getting an offer accepted is the mentality of a home owner buying.