Looks like you have the landlording part started.I grew up with real estate: so the understanding the market is ingrained from following my mom by watching her.I read a lot of investment book, majored in finance, did bookkeeping..Worked as RE agent for a few month (Asia)What I didn't know was: flipping : had to do one to understand Land lording: my flip didn't flip so learnt land lording on the fly Buy/selling: learnt each project from everyone involved from seller/buyer to inspectorsFinancing: learnt on each project just by talking to brokers/mortgage/bankNew construction : chose to work with builder on live in flip.

I also was a Mortgage Broker.The key is finding properties that are in decent shape and just need sweat equity and some cosmetics.

Land alone will be appraised at 1.1M.

Here are the numbers:Asking price: 120KUnits are 2/1's, rent for $600 eachBuilt in 1959Tenant pays heat and electricIncome: $600 x 4= 2400/month and 28.8K/ yearlyI used the 50% rule to cover expenses, but some of them would presumably be:Insurance: $115Taxes: $357Vacancy: $240 (10%)The property seems to some sense using the 2% rule (2400 a month rents is 2% of 120k).Financing: I plan to live in one of the units and use FHA financing.FHA down payment of 3.5%: 4200Loan of 115,800 at 3.5% interest= $520 monthly paymentAfter 50% Rule, $1200-$520 = 680/4 = $170 profit per unit/monthlyI have just a couple questions about the property.The owner recently bought it and replaced the windows/doors and claims that the building is in good shape. 1.

We are going through the survey and getting the land subdivided right know and I know that will be a question coming up soon.

In my farms, as long as the property wasn't in a war zone, land lords would have taken that at twice the price.

It was the vacant land, land lots, fractured construction projects.

You do not want to pay a 30x multiple for the land underneath it.

I don't know NOVA specifically, but I grew up in that area, and I would *guess* that you're looking at $100-150 per square to build, NOT INCLUDING land costs.The bigger question is what kind of experience and network do you have?

The new requirements are:The buyer is prohibited from selling the property for any sales price for a period of 30 days from the date of the deed.After a 30 day period, and until 90 days from the date of the deed the buyer is further prohibited from selling the property for a sales price greater than 120% of the short sale price.The above restrictions will run with the land and are not personal to the grantee.Can anyone confirm this and/or possibly have a link to a reputable source?