How are you on BOCA, OSHA, Environmental Engineering, Marketing, Planning & Zoning aspects, obtaing zoning variances, politics in the area, working with utilities and thier engineers, financing projects......I could go on....Point is, you won't get this out of a few books, universities offer degree programs and new grads still are only prepared to assist an established developer.Best thing is to work with one and learn.Many developers were GCs before they started, probably started with a small number of lots and built in phases or got an existing area and built to suit.

In fact, the house we are finishing is in an established neighborhood, and our design had to go through HOA.

It definitely has baseboard heat, and I saw what I thought was a small furnace in the utility room.

Each unit will rent for 650 a month, tenant pays all utilities.

We of course do this because a) you'll be doing rehab so the place will be unoccupied for at least a month after purchase and you'll still have to pay expenses (including utilities initially until a tenant assumes those accounts) and b) once a tenant moves out, it is rare for the place to remain to move-in condition AND you to have immediate replacement tenants ready to move in the next day.

These guys are not paying other utilities and college funds, and I would not expect them to pay you.

Pretty simple to answer - but much harder to establish good contact and relationships there.

Just a thought.Do you have expenses on it, who covers utilities, comps in line and like kind?

I'm in TX, and if you need to get your buyer into credit improvement and help re-establishing credit let me know and you can use the people we've used for almost 10 years.

Holding a property is not free... you have to pay insurance, taxes, debt servicing (if financed), utilities, etc.