Purchase Price: $65,000Projected Repairs: $80,000Projected ARV: $225k - $240kRight now I am finalizing our budget numbers on this one but the scope of work needed on this is as follows:- New siding- New plumbing & electrical wiring- New Roof (30 year composition) - New Front Porch & Portico- Replace rotted wood on small addition for the hot water heater- New Site Built Cabinetry and Extensive Crown Molding trim & builts- Open the Dining, Living & Kitchen walls to one another (Open Concept)- Increase the Living Room ceiling height to 9.5 feet- Sand & Stain floors- Replace (1) window (Amazing enough ALL the windows are in STELLAR condition!)

Send tenant buyer to MLO to get preapproved for mortgage before they move in 5. 6 mo term should be enough but possible extension for 3 months might be wise6.

The mentality and ability may outweigh an extensive list. 

Google is your friend" (I hate that phrase - but in this instance it's relevant)

Tax season for instance.

My architect decided that fireproofing each apartment, hallway etc with 'approved' fire proof drywall etc was extensive & time/cost prohibitive.

The evicted tenants left the unit in very poor condition and not able to be rented without extensive repairs.

If you are getting the GIS county parcel file, PostgreSQL has the PostGIS extension, that will allow you to run queries 'spatially' using the lat/long for comps right off the county data (hence, keep getting the monthly updates, so that you can run comps back 6-12 months or more).

Things take much longer to develop than people think.Typically when you see big apartment buildings go up it is a 3 to 5 year process.It might only be a few years from the time the public hears about it but before that years of legwork went into getting to that point.I couldn't say if right now was the right time to build.Everything is project specific.If the city will let you use a class C finish rather than a class A the numbers will save you money.Just to give a for instance some cities will demand a traffic light be put in for some projects.The traffic light parts itself are not that expensive but with the fiber optic hookup and underground cabling you are talking hundreds of thousands just for that one item.Typically on larger projects it's a fight for the developer to make profit.They propose a certain density and drawing.The county or city then wants to reduce the density and add in all these road improvements and lights at the cost of the developer.All the costs have to work for both parties to get a deal done.I have seen some projects take 2 years to get approved from submitting after going back and forth with revisions and tabling until the next meeting.So half the battle is the cost and financing available when you break ground and the other is the political junk.How much total land would you be getting??

I've studied wholesaling as extensively as possible as well as all of the contracts I will need.