Vacation rent might cover taxes and interest on a loan (if you are lucky)...But our conversation was this: if money was no object, I still wouldn't pay $12.5M for that property.We could buy our own Gulf-front home, and two additional investments for a cool $4M each, and the cash-flow from two investments will make more than the 1 $12.5M...Not a deep dive or analysis.

I'm deep in that mess - will let you know how it turns out, or message me and I can give you the play by play... 

One area could be four blocks long by two deep and then over one block the prices plummet and houses are more shells than full structures.Best of luck!

If the tank is leaking but the groundwater is deep, could still go forward but ask for discount to address the tank. 

@Dan Short you have two options here if you don't want to get too deep.

The plumber has been super busy after the Texas deep freeze.

Purchase price: $100,000 Cash invested: $33,500 Sale price: $229,000 This was a lead I received from a Realtor that didn't know how to help the seller since it was deep in foreclosure, had squatters at one point, the sellers were divorced and one filed bankruptcy.

But first, I'd highly recommend doing a very deep dive into the BRRRR strategy and using private/hard money. 

This can be done but requires lots of patience and deep pockets! 

@Jay HinrichsLove all the info you are putting out there, it's a breath of fresh air, specially for us sfh and mfh investors who's goal is to get into the development game.