A person would be fvckin crazy to pursue this type of financial suicide. 

Is it hard to pull that type of cash out of a property?

I suspect there's lots of inventory, particularly for new folks coming into the area that find the real estate prices are much better than where they came from.Do you have a type of house you like to target?

Or is this type of deal that you savvy investors out there would scrap and try to be more aggressive?

Typically a few types of PMs out thereThe individual agent, little to no staffThe PM company that's a set it and forget it, glorified rent collectorThe PM company that's a true partnerI would on top of the suggestions abovesearch for a PM that owns their own portfolio tooThey treat your asset like they treat their own portfolio- There should be a full staff and readily available to answer the phone1.

Regardless of how a certain asset class is doing, an investor like yourself can ALWAYS find a good deal in any type of property.Now, my general suggestion for all of my CFO clients is the gradually move up the unit spectrum/asset type as you build up your portfolio.

If I found the right type of investment and I had the means to execute, I would definitely consider it.

Of course you don't want to over pay for land, but site conditions and construction type will dictate costs....is there underpinning?

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

Many lenders will just focus on your ability to pay them back in the time and allow you to 'lather, rinse, repeat' as much as possible, without the same type of underwriting procedures.