In order to make a decision on keep vs sell it comes down to holding costs, repair costs, total all in costs and projected ARV and rents.

Of course the usual explanation (excuse) offered for this is something to the effect of how much people like to entertain and need an open floor plan to do so.

I didn't know the 70% (and then subtract out repair costs) rule.

@Bob Asad investors in high-cost areas do this all the time, but I wouldn't.They are betting on both value & rent appreciation, but it is speculation.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

The Programs includes or covers:- Up to $2.5B in second loan purchases- A maximum programs duration of 18 months- A maximum loan amount of $78,277- A minimum seasoning requirement on the first mortgage of 24 months- Only for Primary ResidencesThe effect of a guaranteed government backed second mortgage for homeowners would be significant and likely put eligible second mortgage terms in line with below market FHA and guaranteed first position mortgage rates. 

I have a tractor and have successfully fed wildlife before doing this.However, there is not a lot of margin to make a profit as I see bare land selling actively in MLS listings for $2-4k more than what it will cost me to buy the tax sale and do a quiet title search (likely $3k apiece). 

I would like to find out what are some good websites with calculators you use to calculate rebuild cost, so I have a better idea which replacement value is reasonable.

You can definitely reach 5% - it'll just cost you north of 10 points.

Better than the alternative of having a line of credit at 12%, the 2-3% hit in spread is lower than a 5% increase in cost of capital in my opinion.