Hello BP, so appreciation in condos is slower compare to a single house & it is true in my areas but because of the limitation in purchasing other type of properties, i had very little choice if i want to do a syndication on multi family units. 

@Ned Careyand @Wayne Brooks I didn't even think of that... that is very true with what you said about foreclosure auctions.

Is this true? 

According to your bio you are on here to teach people, it seems to me that that is not the true reason you are on here.  

Sounds too good to be true?  

I love taking those old, outdated (read ugly) houses and making them new and beautiful.

That's true and that's the case by design and the law is working as intended.Good luck to  you!

I am a true believer in Parallel process and lien construction (the elimination of waste).My goal is to complete two 1400sqft additions in 3 months.

2.Once you have your highest number you can evaluate how true the claims of 5 other offers are and if you want to offer less than your highest number. 

is the home going to be used as a true vacation rental that you will offer to those on vacation  or will you be doing some sort of homeshare where you live in the home and then rent out part of it?