@Kristin DaveyHey Kristin, any chance you have any friends/relatives/co-workers you wouldn’t mind living with?

Your old property has appreciated.If I were you, I would spy on your local competition to feel comfortable your estimates for market rent and sales price are solid. 

I have a property in South Dakota that I'm looking to purchase.This deal would be purchasing an existing sfr on a double lot, tearing it down and building an 8-plex with 8 garages.Purchase price =35kContact estimated =$575 for tearing down and construction.Leaving some leeway for error I was estimating $635k all in for construction of the property.For the rental portion I am seeing 5-1br/1ba units renting at $7003-2br/1ba units renting at $10009 garages renting at $50 eachCoin op washer and dryer $90 Total monthly income $7,040Expenses Taxes =$12,500Insurance=$2,000 (my estimation have not gotten a quote)Property management= 10%Vacancy =10%I'm not sure if I missed anything but it looked like a good deal in my head.

Did the landlord give you an estimated move in date?

This will be something that will take time and a good chance of you going through several people before finding the right one.Have solid interview questions and contacting their references are a must. 

I truly believe that Real Estste is the best chance that an average person such as my self has to building wealth.9 out of 10 Businesses fail in the 1st year & 9 out of those 10 that made it fail in 5 years!

The current Redfin estimate is at $419k and I owe $266k.

Make sure you have included all your Holding costs in the Rehab estimate.  

In my experience a reasonable explanation builds you're credibility and lowers the chance of the other party being angry.

that's all I have done my entire adult life since I was first licensed at 18.. there is a difference in being a retail real estate sales person and using a license to further your investing goals.Its not an easy business by any means to be a retail agent and there is a high burn out rate.. not as high as wholesalers but its at least 50%...If your an ACTIVE investor I cant see how you can do without it.. if your fix and flipping in my mind its mandatory.its about 2k a year to keep sometimes less and If your business does not allow that or like some say the cost is to high then in my mind your not really in the business its a pittance to spend to have access to all the info and be in the club.if your goal is to be a lifelong landlord then work for a commercial brokerage that specializes in cash flow real estate just being there will open up doors.if by chance your very good at sales and have a very large warm market you may shock yourself in how much money you can make just in transactional real estate..