Like usual, I called what I thought was a bluff and they accepted the offer before it expired that day.Comps for four unit houses are hard to find for this city, but from what I found on Zillow doing comps it was worth 526K.

Thats usually what I do

It usually isn't really THAT bad!

Based on your description it would take 1-1/2 days for 2 of my guys but we do this every day.

What are you usually looking to get as far as cash flow?

The local banks are usually willing to do things the big national outfits are not - at least that has been my experience.Nabbing an apt building would be great, and if you could consolidate your capital in that purchase I think that is a good strategy. 

Telling a tenant they have lost their deposit usually gets an "excited" response.After the eviction take plenty of photos before throwing anything away or you may be the proud owner of a missing diamond ring.Protect you self.

1.) renting as is- Usually folks who are interested in the house are not going to care for the property.

I am closing one in Charleston next month that is the case.. my agent brought it to me.. to make it work there could be no fee up front .. but we will build 3 750k specs and they will get list backs.. everyone wins.. plus they know we are cash and can close.. you need cash in this end of the business.As for small subdivisions we do those in Oregon.. and its quite cash intensive and credit.. we just wrapping up 23 homes and that took 600k  in cash and 23  300k vertical loans.. so you need someone with the cash up front can let it ride for the 24 months start to finish and has the ability to walk into the bank and borrow 7 million dollars in 6 months.. these are doable but usually takes a person a decade or so to get the experience behind them so that the lender will work with you and the investor or you need your own cash.. 

Usually that looks like a hard money rate.