It wasn't worth nearly that amount, but I think they found a buyer in the $250k range (still way overpriced for its condition and rents).  

When is the last time you got a quote for something where the quote was a range that the actual cost was not at the upper end of the range?

Hide whatever that reddish looking pipe is going across the ceiling (Is it a Pex hot water line maybe?) 

Expect, for a first time investor, something in the 10% - 13% range and to pay 2.5%-3.5% of the loan amount as an origination fee.

Wooded and spacious, just a little far out, but only 10 minutes from the interstate.Sales price is 600k9 units rent average $900Expenses are just lawn water taxes insurance 15000Gross income 97200NOI 82200The cap rate of 14 works but is valued at 66k per unit.

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

In the past I have worked with properties in the 50-120k range, wholesaled some, kept several for myself thru traditional financing. 

Are you near the water? 

You'll allocate $2.4 million to $15 million by my calculations, with that range being the difference between buying 20 lots in the flatlands in the low to mid $100s up to the high range of buying 40 lots in the more expensive areas for $350K.Most of the lot buyers today are the big builders who intend to immediately build and resell, mixed in with a few end-users who are buying to build their own home. 

Jeffery, I have done a good deal of analysis on a wide range of property types.