The cost of acquisition, deeply itemized to make sure you have a real number, acurate analysis of market lot rent potential , and cost of engineering srudies then install or rehab of wells and septic install, cost of new or upgraded electical hook ups,  roads, then the multiple meetings with county zoning and water departments before you even start the rehab.

Has anyone noticed that it seems like there are a lot more construction projects being **** down by Dallas city code enforcement?

Performing Note 
Kansas City MO 
Price $25,200 
Selling 138 payments 
Buyback Option After 60 Months 
Value $140,000 
Current balance $35,687 
Original balance $37,000 
P & I $324.70 
Original term 360 
Remaining term 297 
Investment to value 26% 
Loan to value 36% 
Interest rate 10% 
Effective yield 10.35% 
Seasoning-Stellar - 53 Months 
Dodd Frank N/A 08/14/2012 
Projected rent $947

I ended up having a better opportunity present itself so have dedicated my capital towards that project, but am now revisiting the build option.

What I'm looking for is getting something establishing a relationship with a bank that can immediately refinance a rehab project without a long wait time.  

Now let's see how your projections play out against real life!

Looking for full service contractors to manage the project fro start to completion.

However, an buyers agent does help when negotiating and does save you a lot of time when you are doing multiple projects a month. 

I've begun my real estate investor journey and am currently working on my property analysis technique/skills.

My strategy would be to hold onto this property for 20 years while my parents receive the income and then cash out when the market is right.Rent: 8% gross salesCap Rate: 6%Base Term on rents: 11 years with 3 10 year options.In my projections I'm assuming sales increase 1% a year below 3.5% inflation.Using this conservative assumption IRR is close to 9.5% over 20 years (assuming an exit value with 7% cap).Does this sound like a good investment strategy?