If everything goes right I will be able to refinance and will have created 25% equity, or I may end up having to bring $10-20k to the refinance to get the 75% LTV depending on the appraisal, but even if that's the case it's still a great deal.

My basic philosophy is that if you can't handle the little things, then you can't handle the big things.

I think your best approach is to pretend you are the investor yourself, calculate build cost (mortgage with interest) + Maint / cap expenses/ management fees according to your zoning and then compare that to the average rent in that neighborhood.

Unfortunately, at the time, and for the years that followed, I was preoccupied with the notion that stocks were the superior investment vehicle.

Welcome to the journey.

If you call a GC, it may cost over $1k. 

If these were real motivated sellers, he wouldn't sell them for a bit over 1 buck a pop.

@Thomas JaskulskiIf it is a good deal, the buyers will be the easy part.

I also lead with the MTR strategy!

@Mindy Rosscup, you want a contract that is specific to the laws of your state.