Or does neighborhood pricing come into play on price.

Our first one was due to the fact that we were also looking for a new home while jumping into investment property, but he was never pro-active, rarely got back to us the same day, etc.  

@Roger S.Bravo .. well played indeed !

Play what-if at EOY.As far what to do with it? 

In that case, coming in and turning around the property is not as hard of a play. 

I'll try playing around to see how things look.

we do a lot of infill building.. this only works in HIGHLY desirable areas @Wayne Brooks  as Wayne states not sure were your thinking the value play is here.now there are plenty of folks that buy cheapo lots in FLA like Lehigh acres then sell for a few grand more on contracts those are the land flipping guru's you see that's what they teach.. and there are millions upon millions of lots available for this type of activity generally in FLA  and West Texas  AZ CA and other areas that had massive land speculation booms in the turn of the century.. think Lancaster Palmdale in CA there are million plus platted lots there that get traded around at tax sales every year.to find land with value to builders you need infill in established areas.. close to down towns.. in areas that are regentrifying .. lots that have shadow plats beneath them. or you can split using a lot confirmation technique ( common in Portland)  you need to work areas of Scarcity .. 

Hi,I'm very new to real estate but am very fascinated with active mortgage notes. 

It's a back and forth game they play.

Many people are flocking to purchase in markets like the MS market you had these SFR’s in (low cost, 1%+ rule, no appreciation play long term, etc).