This loan product as currently constructed is absolutely useless to 90% of the investors out there - at least when I compare that to what the local banks are doing.

That may or may not be in the range of the median house price depending on how much new construction activity is going on in your market.

Jumping into an apartment complex without some experience under your belt may be very profitable, but you will lack the fine tuned skills that may handicap your returns while you adjust to the learning curve.Zillow's zestimate can be good too.

Is there new construction happening?

On the day this property came on the market, I received a phone call from one of the bankers with a thumbs up on a construction loan for $85k as a second home property for six months, at which time it would roll over/refinance into an investment loan.

They claim to offer 50% increase in speed of construction and 30% decrease in costs.

If the needed budget amount remains unchanged and property values change, as has happened in many areas, then the rate can be adjusted to maintain the required funding.

This field is a different animal than ANY other in construction.

Unfortunately these projects often features the homes jammed up on the property lines with a complete obliteration of existing trees/landscaping features to make rooms for a monster house so it doesn't necessarily serve to 'upgrade' the neighborhood in many cases other than increased comps.In other areas I've seen a builder slowly accrue multiple lots of and develop them in a more tasteful manner with new construction that is architecturally consistent with the other new homes they've built adjacent and allowing for proper landscaping.I try to do everything I can to avoid complete teardown and rebuild, if I can utilize the existing foundation and utilities it is a huge cost savings both in construction and in paperwork and permiting.

Weekend techie adjustments is what I chalked it up to...