The time and money might just be worth the deed in leui if my evaluation is correct. 

I'd suggest checking out Patch of Land as they have a innovative crowd funding platform and they evaluate each deal to ensure they believe it will be successful (another set of checks and balances especially for a new flipper).  

Third...evaluating deals?  

I use Mint where I have logged in all my assets and liabilities and it calculates most of this automatically.

These and a few other questions should help evaluate what to do with it.  

Hello, Srikanth.Here are the first 10+ items we use when evaluating an opportunity like the one you have right now.Hopefully, the seller or your soon-to-be property manager can provide answers for you.  

Insurance is coming out today to evaluate the damage.Its just one more thing to put in the back of my mind as a landlord, what is covered for fallen trees?

I've worked in the software industry the past 8 years so getting to get my hands dirty and actually build something is a nice escape.I'm actually in town through tomorrow, let me know if there is anything I can do to help you evaluate your deal.  

Sort of like a "net sheet" that a realtor would give you when you're evaluating an offer (except for calculating tax items too, of course.)I do appreciate your response - thanks!

Lastly, whether you self manage or use a third party, the time involved is always a concern and should be consider as a cost before evaluating strict return on investment.Please feel free to contact me if you want suggestions on how to streamline your management and save on property management cost.