Appraisal numbers really mean nothing on vacant land.

Here are some details:The home is brick on 1 acre of land in a golf course community.

Area comps show houses in the same shape sold for 30-40k fully updated places have sold for 50-65k.

Today they told me 25%, but it used to be 20%.The mortgage rate for this mortgage is residential, between 2.5 to 3.7%I will be probably looking at 6 Plex in rough shape with higher cap rate since I like to renovate instead of paying for others renovations.thanks for the tip about cambridge, I actually saw a nice 5 plex for 400K, with something I really like: 2 bedroom apartments. thsnk youFilipe

If the place is in good shape and the rents are at or near market rate I would consider it an advantage

We started doing the land lording ourselves while we lived there and then passed if off to professional property management when we moved, which was well worth the 10% they charge!

Interesting how "staus quo" can be preserved up the point that its easier to live in a lala land than to make any changes ... bureaucracy - a cancer of any society.Based on what you guys wrote drooping down from 7 to 4 should not be at least a zoning problem good to knowThanks again

The first was that if the mobile home is in an actual mobile home park, even if you own the home you don't own the land and owe monthly fees. around my area they were usually around $200-300/mo.

You're in probate-land.

Yes, as per the above.Also, if your going to SPEND money on homes, I can hook you up with a title rep at Land America that will help you, but it's a two way street.