But this is a 2000 sqft house built in 40's probably, and comparable analysis shows that this is a fair price.Which price is the fair price?

Geographical Location: Japan (the most honest, reliable and enjoyable business environment on the planet, in my opinion - tenants stay for 4-5 years on average, with 15 and 19 year tenants not uncommon - NEVER intentionally trash or damage a property - honest realtors, sellers and insurance folk, etc etc)3.

All the best to you and maybe we'll connect sometime to compare notes since we'll be working in the same market and at similar levels in our REI careers.

It's not quite apples to apples for me this time since my last property was bought in 2010 when the market was a lot less competitive, but *knock on wood*, it's looking like deal-wise this one will be comparable to rental #1 (the duplex), and be better than #2.

The ones on the higher end of the price scale (over $2/sqft) are comparable to mine in terms of renovation.

Writing a loan on a SFR compared to an Apartment Complex compared to Mixed Use is not all the same.

Would love some one to compare notes with.

Even what I'm doing - explaining how it works - is abstract compared to actually letting them do it.

BTW, how do you like Texas compared to California?

Determine the ARV for a finished home comparable to what you'll buildSubtract selling costsSubtract construction costsSubtract land development costsSubtract acquisition costsSubtract carry costsSubtract your desired revenue= property value for you.Comps are irrelevant in land buys UNLESS your property valuation is greater than a comparable property.