It's important if you're going into a new area that doesn't have a ton of development yet, but you are very confident in, to purchase as much inexpensive land as possible before your plans become known but to also make sure you drive enough volume in that area to make it clear to tenants that they're not in a desert outpost all alone.

I'm guessing your plan is to move to Indianapolis (unless you're already living in the area). 

If the numbers do not work, or the borrower does not seem likely to pay me back I don't.

However, I'm really interested in what an investor would be willing to pay for it given they can rent to 2 different families

Save and pay down mortgage to 20% equity ($292,000).

We are paying for commission for agents instead for sellers paying that.

Managing a same-day transaction required meticulous planning and coordination.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

What is worst is when they run out of time on their current hard money loan and are paying penalties/very high rates for going past the maturity date. 

He obviously oversaw everything and approved, and we of course pay extra for that.