Usually they are either too expensive, the taxes are too high and/or have monthly HOA fees, as the "value added" benefits of being a "golf course lot", most likely will not work with the "blow-out" pricing I need to resell quickly.For example, I just bought (on 12/21/11) a nice 1/4 acre vacant lot one block over from "the 4th Fairway" in Citrus Springs, Florida (re: a block away from the El Diablo Golf & Country Club), ...from a bank for an "out the door" price of: $1,175.00.There is another REO lot owned by another bank that backs-up to the fairway.

78,600 gross with NOI of 56,340You are saying (property management, vacancy, and expenses) will only run 28% of total gross annually.Sellers commonly city low expenses after rehab when trying to resell but the buyer in later years of ownership will have high capex and numbers.

Party A told Party B they would fix the place and resell it for a split profit.

I am very confused.Finally, to do a subject-to/rehab/resell, do I need both a RE attorney and a title company, or is one enough?

I guess my only issue is to be able to resell it :) You should post it in the success stories once you resell it :)

@Justin Sandall you might want to consider for thin deals to do a "JV with the seller"You can make 10,000 by helping the seller that has some equity by -buying it subject to the existing financing -getting title -improving the property and -reselling it -and making a JV feeIf you don't have the money to improve the property to reseller get a private lender to lend you the money

Keep in mind I am going to rent this property not flip it for resell so materials and work are not going to  be geared for high end resell, just durable and tenant proof as possible.  

It is no different than buying a car at an auction , fixing it up  and then reselling it for profit.  

Buy-rehab-rent-refinance-then repeat makes more sense than buy-rehab-resell during the portfolio-BUILDING phase. 

To resell it?