I can think of a few other ways to make use of the land, perhaps, to collect revenue, but for now, from an investing standpoint, how would you guys approach this deal assuming its a good one ( low monthly payments, no or very low interest).Is it uncommon to have contigencies in play in case I can't make use of the land or sale it to someone else within a timeframe so I'm not stuck with a bad investment?

Hardwoods were neglected/scratched badly and carpets ruined by a tenant.

It's either in a bad part of town or in a far suburb still in development. 

Have other investors gone into flips expecting to sell for the highest comp in the neighborhood or is this a bad strategy?

Plan on failing a few times but decide to make more good decisions that bad ones and know that this is a marathon and not a sprint. 

But then, every once in awhile, you'll get a bad one. 

Hey Bigger Pockets Team - I have done some research on moving my 401k from corporate America to some form of self directed venue.Like Dirty Harry - I am looking for THE GOOD, THE BAD and THE UGLY!

That is never a bad thing if it fits your need!

She is a total Bad-A!

Hello everyone!!Many of my past mistakes now are holding me back from my leap into the world of real estate. I have found quite the passion for the whole "rehab & rent" vehicle and have found such a great deal and...