@Louis FernandesDo you really think someone would lend a stranger money at 3% when you could invest it risk free for 5%?

B grade area and good schools.I think property 1 will be easier to get under list price but not sure of vacancy rate since it's a smaller town.

It exemplifies the visionary thinking and risk-taking spirit that characterizes successful real estate investing — the ability to recognize the potential of undeveloped or underutilized assets and transform them into valuable and productive resources.Today, the legacy of the Louisiana Purchase endures, serving as a testament to the transformative power of strategic investment and forward-thinking decision-making.

(And even if they think they have a good eye.) 

It sounds like this person is essentially a general contractor or do you already have that role...in your case I would think your project manager would manage the GC (i.e, make sure they are on schedule, under budget, and quality is up to par). 

There are some things you will want to think about before purchasing in the area - insurance, fire mitigation, etc.  

I don't think I'll be ready for a couple months yet to buy, but I'm looking for some concrete answers so I know what benchmarks I need to hit in order to move forward in a purchase.

I think you found yourself in the right place - soak up as much knowledge as you can but don't forget to take action!

Given that many people have said the average price to build in California is $200 and above per square foot, I became worried.Do you think building a 2-bedroom, 1-bathroom home measuring 550 sqft is feasible at this cost?

I dont think i can change the picture location because it is the Property Management website but I will ask.