I owned them for 3 year and currently have filled them both with long term tenants on a land contract basis.

A lot of people don't realize that.If you have any questions about markets or turnkeys in general, I work in that space every day with a ton of people so would be happy to help out!

Absolutely... but I have no problem with that because I've had 10x the return on my investments with Lex, and the returns grow each and every day. 

@Brie Schmidt   correction  I know you already started your empire congrats on expanding it.I just wanted to illustrate how important it is to have the three C's if your going to succeed and build a portfolio using the best rates and terms.. you Need Character ( banks look at this these days don't think they don't) Credit ( obvious and you need stellar credit ( walk from bank loan and your toast) and Capacity ( need to prove that you Actually make money in the industry have reserves and can weather some storms which we all know every day is not sunny).

(School fees, traffic fees, etc. liability insurance, etc.)Is he a working contractor that will be out on the job everyday pounding nails himself with employees or ?

Most here can't define real property and why it is valuable or explain why RE is unique and different fro other investments, The basis for valuations, nor have I seen much on the three valuation techniques of property and why one is given more weight than another.

Still, the lesson that I have learned is to submit my bid every day, even if it's lower than their counter-offer.

Also, you said the property is being rented on a month by month basis so at this time there is no rental loss.

Might not hit the 2% rule, but me I will take the latter every day all day.

The cash value is really the cost basis or what we have put into it.