This most commonly would be achieved by getting the properties under contract to purchase with an inspection period, or working out some type of option to sell deal with the seller.I'm not a coach so I won't get into much more detail other than that.

Yes this is nothing new to the big boys & girls out there, but new to me as I have only purchase new completed places.This is the current bus. model that worked on my building1-build/buy new & hold(unique duplex like SFR - thus hi quality tenants)2-cash flow-not great but good3-exit by selling as condos (30% higher value than the whole duplex structure)These are the rough number on one current duplex:-150K 0.4 acres land purchase for ONE duplex (an average - extremely hard to find)-300K Build and contractors fee-20K City utilities (can save here w/ tear down-Utililitie in place & easy to permit)-Appraised at 470KWith these numbers there is no deal/money to be made upfront unless the appraisal rises or the land price drops.

So...I back-burnered the whole thing (was in the process of moving, etc.) and now you know the rest of the story.

I'd be concerned with a tenant moving out after a couple months, then I'd be stuck with the whole turnover process so soon...

Thanks Douglas I will be doing a lot of reading and listening on BP--I have the whole summer off to get this moving.

The main thing we were hoping to achieve is very cosmetic.

Do something everyday that gets you one step closer to achieving your goal.

I also hear that there are a whole LOT of properties for sale.

When any part of a whole loan is stripped away such as principal, interest or servicing rights the loan is no longer whole.

Interesting RE Article at Money today:Chinese buyers flood U.S. housing market(Copy & Paste the link for the whole article)http://money.cnn.com/2013/07/08/real_estate/chinese-homebuyers/index.html?