I think I stumbled onto the benefits of this construction style in management but am incorporating it into my future acquisitions.Tim

The property is in "Tear Down Condition" so I'm assuming I have to do something with it along those lines.The area is definately a lower income/value area ,but is somewhat close to a neighborhood of high priced homes.The lot will be something like $500-$1000 at maximum with a home on the location.

I saw a FSBO for a house in a really expensive neighborhood.

In some tract neighborhoods zillow can give you a decent indication of value, but with custom homes its not very dependable.

I have been focusing on properties in more preferred neighborhoods.

We are electrical contractors so there is little difference, but there are some areas I can give examples:Homeowners want a Square D QO panel which is rated the absolute best for safety (and has been for years), rentals want Homeline or low end equivalent.Fixtures can make a huge differece - $4.97 Home Depot special for rentals, selection process for Homeowners (HOs) to pick the perfect fixture as per their individual tastes.HOs may want Decora style switches or receptacles (sometimes in screwless plates or specialty colors), REIs want economical, standard in white or tan (stock).REIs often have very little hand-holding.

Currently, I am working on projects in the neighborhood, which is how I learned of your property.Please call me at (XXX) XXX-XXXX, so I can tell you how we can buy your property quickly, with no hassles, and most importantly, at a fair price.

By 'redevelopment' do you mean city revitalization type projects where you buy run down places, fix them up, and essentially turn a neighborhood around?

This gives you time to check out the home and neighborhood to see if it's a good fit.

I am starting to see distressed condos listed retail, in incredible neighborhoods, with good schools, that would rent at break even (paying retail) using the 50% rule.