If the sale is valid, you have no issue with any heirs, beneficiaries or subordinated interests or claimants unless they litigate to unwind the sale, in which case a 'blown sale' might result in the trustee making a unilateral decision to rescind the sale or the claimants attempting to gave sale set aside.

This should help you determine whether you are satisfied with the resulting cash flow after you subtract mortgage, maintenance, etc..As for finding tenants, you can put up posts on Craigslist before you even purchase the multi unit properties and collect as many possible tenants.

Most personal finance pundits will tell you that if a purchase does not produce income and depreciates, it's bad debt.

Select the design that s/he and you feel is most appropriate for the marketplace.The next step would be to have the architect produce a set or working plans to get bids for construction from builders.I'm not a residential developer but I've done a lot of the above in commercial projects.

@Andrew AndersonSo far on this project we have been very happy with the overall quality of the work and have no reason to think why it will not continue.When you surround yourself with professional people you generally will get professional results.

I recommend you purchase it barring any seriously ugly results from the home inspection.Mortgage Rate 5.00%Length of Mortgage in years 30Monthly Mortgage payment $201.31 Taxes $109.33 Sewer and Water $- Trash $- Heat/Utilities $- HOA $- Cap Ex and Ops $150.00 Insurance $42.50 Mgmt Fee $95.00 Vacancy $76.95 Total Expenses $675.09Total Revenue $950.00 Cashflow/month $274.91 (This assumes the down payment is in cash.  

I’m not even in the phase of direct mailing where I expected to see results.

You want your investing not only to produce money for you but also quality of life.

some newbie agents will do this for experience ... top end producers will not.. unless they set up an assistant to do it.. and if your just acquiring it would be harder.. if your acquiring and then fix and flipping and giving list backs well that's another kettle of fish all together along with price points.

Are there any special assessments planned, or obvious deferred maintenance in the association that will result in a special assessment?