Of course, without the ARV and repair cost it's hard to say...What's the land worth?

Has land / lots to add additional 8 units.

I won't know the repairs until getting in today, but it appears in reasonable shape, probably no more than $15K.It's mapped into FEMA's high-risk flood zone.

Place is in pretty bad shape inside.

It's unreasonable for the city to expect you to grow more land to accommodate a parking ordinance instituted after the building was built and was not in place at the time the occupancy permits were granted.One thing you may consider, if there's room, is to make the parking spaces smaller, if need be.

I can't use the income approach, its a small town with maybe 3 restaurants or so, comps are nonexistent (I think) and its been vacant for a few years now.According to the assessor the land and building value is $50,500 (I'm using that as a ball park number) although the current owner did pay 300,000 for it previously.

There is no mortgage against the property, and the property is owned by a land trust.

I tried to land my first deal in Nampa, I got all the comps, the house would probably go around 65K, they were asking 39.

I ask this as thier is a rule in SDIRA land that to paraphrase says "the SDIRA cannot benefit the owner of dis-allowed party in any way" (meaning a parent cannot buy a house and rent to a child etc....)

You should have a profession litigation search done and speak to the land development office for Nye County.