I live in Dubai and the market here isn't mature enough to bet on long term and is very costly ($10m's to do any sort of project).In Memphis, in very solid infill 80 year old neighborhoods, you can buy tear downs for about $300k (0.5 to 1 acre lots) and the sales price on new is $180-$200 once you get in the 6k+ foot range, can go up to $250 or so depending on lot.

And what are your debt terms, fixed/variable rate, and maturities?

The broker of record usually gets a nominal fee say a few hundred bucks to 1k on a commercial deal like that.I would say with commercial to get focused.

I get a call from a nice guy today who happened to see a post that was indexed in Google from BP.His daughter wants to get into flipping but wants to borrow money from mom.A guru flipper ( I am not naming them ) was wanting about 14,000 for a program and then another 20k plus for the next level etc.I told them to check out J Scotts book for the 10 or 15 bucks or whatever it is and also come to Bigger Pockets to sign up for free.

If they are the PM that's different, if it's a one time shot at marketing your rental that could be way to much to ask for, rent at 450 bucks rent, 20 hours of driving time, 15 hours of showings, 7 hours of applications and interviews, 3 hours of contracting and coordination, could be 45 hours and 60 bucks in gas. $8.67 an hour!

I have been flipping in Denver for 4 years and that business has gone the way of the 8-track player (at least for me it has). Inventory is gone. Foreclosures have dropped off a cliff. I am not tied down and enjoy...

My purchase offer includes a seller-held mortgage maturing in one year, so I want to make sure my estoppel letter ensures that I can either terminate or evict existing tenants in a timely fashion.Thanks,Mike

I have painted itI went to remove it once and the wall was rough so left the paneling on and I covered it with heavy duty commercial wallpaperit was the $300+ a roll type I picked up for $10 bucks a roll(I bought it all)I also did a dining room that was panel I just covered top half of panel with the wall paper and left bottom like it was and added trim

You can get them for a couple of bucks.

Tenants don't have the money or time to do something like go to court for a couple hundred bucks.