.- Let's assume the lot is already vacant and has already been purchased utilizing a lot/land loan. - The goal is an 18 month loan to complete phase 1 below.

.- Let's assume the lot is already vacant and has already been purchased utilizing a lot/land loan. - The goal is an 18 month loan to complete phase 1 below.

The only problem is that it does not cash-flow due to the owner paying ALL utilities.

Or can you also utilize this strategy with loans and putting a down payment on a property?

Working with our agent to get a better idea on value there.Originally we wanted to find a way to utilize the equity for another purchase since we expect a decent increase in value but not sure which direction is the best way to go.

Square footage of rentable space also necessary, garages, utility costs.... ; a lender can help you calculate we have lots of tools that we pay for; find an appraiser who needs you to pour his coffee and pick his brain.

I would connect with a local agent who has experience working with investors and is an investor themselves, you can always utilize the BP Network to find an agent.

How could I utilize a law degree to invest in real estate? 

Alternatively, I was considering bridging the two units and converting it to a luxury family residence (neighborhood does hit million dollar homes) but not sure if the market will support the price tag (this part is easier, and I think the fact that the current owner who claims to be an investor himself yet hasn't made it work... this tells me it probably isn't favorable towards a flip). it definitely is not favorable as a duplex rental so the only way i see it working is to add doors.

I did not increase the rent since I purchase the property, they don't pay utilities, and also they have free one parking garage) Should i just kick them out.