I'd say you need a minimum of $30k for a property at this price, to be safe.  

When a developer brings me into a project, we always have a due-diligence phase to vet the site and look for anything that may be a roadblock before the project fully moves forward. 

I’ve received a number of responses from investors essentially stating that they use a simple buy/rent/hold approach in small residential properties, and have accumulated net worths in the 1 - 3 million $ range starting with just one mortgaged SFR. 

This seems a bit risky and too complicated, in my opinion.

There is a link in my profile if you want to set up a call. 

The plan is to build a modern two-story 3200 sq ft house, 4 BD, 4.5 BH house with a garage. 

It's just a fact.

Property was about 7% under market rent and has a T-12 vacancy of 12% before acquisition.

The insurance company sometimes has a lease they want you to use.

Do you think that could lead to a price correction or just a plateau?