Equal raw land in area is selling for 75-100k just for the land.

I some experience in real estate because my parents were landlords and I helped them out growing up.

And that one risk, is the same one that landed me a job with a local investment bank when I penned a letter directly to the chairman of the board ripping apart his old school view on education after an interview that aired on public television.April 2010: After rising thru the ranks at the bank, I realized the investment banking culture was too cutthroat, and simply not right for me. 

I know that does nothing for you being a distance landlord, but it helps you put the money to work.

Our total out-of-pocket costs will therefore be around $7,700 ($3,700 down + $4000 rehab).The numbers look like this: Rent $650 Loan payment $345 4 years @ 5% HOA $130 Insurance $13 Property taxes $67 Maintenance + CapEx $80 For new windows and HVAC Cash flow $15 During land contract Cash flow $361 After land contract Cash on Cash 56% After land contract ROI 48% During land contractAs the numbers show, there is virtually no cash flow during the 4 years the loan is being paid off, but the return on investment from principal pay down is almost 50% PER YEAR.  

My ideal criteria includes: 1,200 - 1,500 sqft, 3 bed, 2 bath, garage (contingent on elevation), and bullet proof.I have seen some listings for somewhat odd and overgrown parcels of land selling low where the numbers might work quite well.

There will be a FREE meeting next Thursday (October 20th) for experienced and newbie Investors, Landlords, Wholesalers and Flippers at Tommy's Pizza on Dublin-Granville between Sawmill and Riverside.

@Joseph DavisThere will be a FREE meeting next Thursday (October 20th) for experienced and newbie Investors, Landlords, Wholesalers and Flippers at Tommy's Pizza on Dublin-Granville between Sawmill and Riverside.

I had a mentor that taught me the land business, best thing that ever happened to me.

I see tons of houses in Milwaukee that are left to rot in the inner city by out of state landlords who probably thought it was a good idea to buy a $25,000 house that rents for $800 and just hire a property manager to deal with everything.