You will need to justify the sale price of those assets to the new owner at their then current value on your books.It is a big hassle to do this, but it can make you a lot of money if you do it right and are careful in your record keeping.

Also I dont know the state of the house ie is it completely derelict and trashed or what not, as previously stated i dont care about the house, just the land.

That means paying all cash isn’t an option unless you plan to bring another $600k to the table. . 

Plenty of people do have 10-20 unit and work thru it, you just need to think it thru and have a plan if you don't want to do all the work. 

Scares the gang members off every time.Never cared for ARs because they are based on M-16s and M-16A1s.

And also, know everything about operating real estate, if you really want to know the risks: business plan, financing structures, ability to execute, market research to vet their underwriting assumptions, how fees can influence investment decisions...3.

Yes we definitely encourage everyone to STICK TO THE PLAN when renovating!

It's a great way to talk through your plans and goals for real estate with people that actually understand! 

Great Handyman – Someone to take care of the little things that come up on a daily basis.That's the team I am looking for to start. 

If you plan to be there for the entire rehab process, then go for it.