We would get 2 bathrooms too, my money pit has only one bathroom.If I sold this money pit in the next two years, maybe it would be worth $575,000-$600,000 before this thing goes bad.  

The MLS is where most houses are sold. 

This is probably due to the fact that 14% of homes were sold FSBO in 2003, the year before Zillow launched.

I was thinking I was going to wait until 2018 to see what the actual loss or gain was from the insurance payout minus the repair costs and claim it then (Kind of like you would with a flip...claim all expenses in the year you sold it not in the year it was incurred).

When I get the seller to sign the contract that I plan on assigning to another buyer,  I have to give them copies obviously so I just leave and bring them back? 

I have my eye on a lot that is selling for 90K (2200 sqft), properties in this area are being sold for around 420K.

In other words, over 8 years will go by before you break even on your investment.This is ignoring any rise in property value, which you wouldn't benefit from unless you sold it, anyway.Even after 30 years, it is still less than a 9% ROI.

I have a rental property that's approximately 20-25 minutes south of Raleigh, NC, and the pricing for comparable homes recently sold in the neighborhood have incentivized me to look to put mine in the market.

In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.

@Michael Majer, can you share a little about what sort of ball park its current value is (and also what its After Repair Value should be, based on sold comps)?