@Sanjeev Advani I am glad to hear that there are local meetings in town, unfortunately in work tonight.

If you don’t account for this upfront and a washing machine goes up, then the roof needs redone in 4 years, or the garage door needs replaced- that will eat into any cash flow you have built up for x amount of months.

There is nothing that replaces a live conversation with someone who has already built that trust over time.  

I've built a financial model that I utilize to help others investors analyze deals, so if you ever have any questions about valuations or the exit, please feel free to message me at anytime.

Did you look at other, similar houses he had built?  

I could see this working if you tried it this way:-buy a very distressed property that somehow still qualifies as "livable"-perform a live-in-flip style operation, minus the flip at the end-do a cash out refi based on the higher value after renovationYou'll have to make sure your cost of renovations are much lower than the equity built.

I get the purchaser information at the tax office and if they are out of town investor's I contact them after their flip has become a flop.

The renting market is in an incredibly high demand in our area, but we are in a small town. 

Just wondering if this is a good sign for buying...Small town, tons of growth in the county....someone just built a 42 unit rent based on income smack dab in the middle of said small town. 

When set up side by side they look just like the onsite built metal storage buildings we are all used to seeing but they are not a permenant structure.