Establishing a robust financial base is vital, as it echoes your investment aspirations and capacity for risk.

However, land pricing is based on many other factors such as zoning, location, the city its located in can make a big difference if there are certain factors that give developers incentives to build there such as transit, low income, walking distance to rail and other things.

My Padsplit rep is actually based out of Vegas as well. 

James,The purchase price and the Current market price of the properties are not what your Insurance should be based on. 

Plus, being on layoff status gives me a lot of free time and is Just another reason to never put all my eggs in the job basket again.Here's the deal, pals: whether you're in the land of Jersey, the big apple New York, Pennsylvania, or Maryland, I'm your go-to guy!

Vice versa, if you are just starting out, you might want to be more conservative to tackle any unexpected expenses that arise.The 70% rule is an industry standard, but that doesn't mean you can't adjust it based on your desired ROI.

I too am based in Chicago.

I specifically focus on subdividing land and multi-family new builds.

Property taxes are determined based upon the property’s assessed value that is determined by the public tax assessor.

If it was about buying properties, it would be called "collecting".Assuming a property that is good for both, one simple way (the best way) to see which is best is based on comparing the potential profit from a flip to how many years it would take for the potential cumulative CF to equal that potential profit.