If your budget is $150k you're going to have a tough time buying here - right now there's only one house on the market below that price and it would require at least $60k in renovations.The Riverside and (adjacent) Avondale neighborhood regularly ranks in the top neighborhoods in the country, and values have risen steadily for years now.

Account Closed Will you be using this guy on a regular basis? 

Networking, if done right produces a snowball effect where new leads generate even more leads and it goes on exponentially.

You do a reverse construction exchange and your intermediary takes title to the lot and holds it until the construction is complete and you can take title to complete your regular exchange. 

A stock portfolio that produces dividend income may help you qualify for a loan.

Someone posted a very great mention about staying slightly under comps (as this helps keep up the good relationship with the tenant---because they feel they are getting a good deal) and it also gives you room to go up if you need to (for reasons outside of regular rental increases that sustain with inflationary demands).

Then I would use another version to file our regular taxes?

Just get a regular construction loan.

I’ve watched wholesale deals regularly get bid up to near-market value.... you have to be very creative to find anything worth buying.

@Joel Loughrin I actually just read that you can have an unlicensed employee manage but they must be on w2 and they'd have to be a regular employee (you'd have to pay workers comp, etc) so I guess that's up to you but sounds more expensive than a property manager.