The seller has provided me with a 2013 appraisal that is quite thorough and has many comps and valuation approaches, but obviously is 5 years old.He also told me that they have a recent appraisal that was done and when I asked to see it, all I received was a couple of sentences that used the income valuation approach to come to the same price he originally offered.My main question is what value does the income valuation approach have to a property that could potentially be vacant in 3 years?

But am unsure if the state of Wisconsin requires some form of license or other legal forms.In other words, can we simply go and buy a place, with the intention to rent, and immediately start advertising?

I got some reports and there seems to be structural damage due to flooding from a water main in the area.

If you are a land-banker intent on making this work one strategy might be to buy in middle Fountaingrove.

I have two main questions: 1) How much under the asking price should I offer?

I have no intention of jumping in head-first with no plan. 

During inspection noticed cracks in the driveways and after further investigating found roots causing the cracks and were going into foundation..My main concern was roots damaging pipes before having that issue I had tree removed.Honestly I have no idea how big are Cherry Trees and how are the roots.

(its not on the triangle MLS yet)  It is in the Raleigh city limits so the acreage alone is what caught my interest.The intention then would be to either a.) 

I've since bought a fourth and really like the business, mainly because I haven't had any negative cash flow property yet and they all start to have positive cash flow within two years. 

One unknown (example bad sewer main) can throw this into retail or above category.