@Joe Kling  you should just Ping B2R I find them really responsive IE they answer there phone :) based on the states or markets they lend in will give you a good indication of where they have researched markets and are comfortable lending. 

-Pricing for properties in this area and in the 1-2 mile radius are all over the place, but seem to comfortably rest in that $349,000-400,000 range for a decent 3bd/2bth property with age ranges of properties around the 1950's to 1970'ish range.

However, it's a market that we're comfortable with, great schools, and high-quality long-term renters are common.

Of course you will be fine there and comfortable.

As you move into a career and get into higher tax brackets, it may not make as much sense to do a Roth since an immediate tax deferral might prove more advantageous, but at 19, I would maximize the Roth as much as possible (up to $5500) per year.  

The "just market value" of their land is then listed at $250K (the county defines JMV as "The price at which a property, if offered for sale in the open market, with a reasonable time for the seller to find a purchaser, would transfer for cash or its equivalent, under prevailing market conditions between parties who have knowledge of the uses to which the property may be put, both seeking to maximize their gains and neither being in a position to take advantage of the exigencies of the other.")I am very interested in learning by participating in this deal but I don't know whether i am getting screwed through 1) him assessing my basis too low by valuing it at 212 instead of 250k and 2) the terms of the overall deal.I am leaning towards doing the JV since there are other places where I can learn about rehabbing and renting, or flipping, but this property offers a great opportunity to participate in a development with a high quality experienced guy who is very well connected. 

I have a decent amount of start up capital for my marketing but I just want to make sure that I efficiently maximize each and every dollar so that I can build and maintain sustainability with my marketing.

Should I feel comfortable going ahead and bidding on these properties or is there a way to dig deeper without digging into my pockets ?

😊@garymariencheckIt's a good plan, but make sure you drive the neighborhood on a Saturday night to see if it's a location you would be comfortable having your family in.

The way this country is going your going to need to be rich to be comfortable.