So to @Jay Hinrichs  point, talk with your family and friends, you may be surprised by the interest you generate.

Utah is flooding bigger pockets - I like the energy levels! 

In this case - the encroachment affects about 3.5% of the property...so that could be a basis to calculate an amount for this (or as a basis for the escrowed amount).Now - I also know the seller has title insurance and may actually have a valid claim IF he didn't know about the encroachment when he purchased (the survey showing the encroachment was generated when he did a refi on the property...but I'm unfamiliar how that process works and how long it takes.

Here are a few I see:Pros for Rehab: You get to see and correct the condition of the house immediately, you get to screen your tenants before giving them the keysCons for Rehab: time and $$ in rehab work, no income until you can find tenants for itPros for Tenants: Income right away and no need for immediate rehab (hopefully)Cons for Tenants: Do due diligence to ensure income-generation (evaluate lease and rent details), mystery quality tenants, unable to fully inspect house conditionWhere would you begin?

They calculated a loan amount and an interest rate, and generated a monthly payment, but the notarized paperwork they signed only had that monthly payment.

You will have to sink 40K+ into it and it will generate less than $1000 / year before taxes.

Our company has generated more profits doing this land development process/land entitlement process than almost any other type of development.2.

I'd like to pick the brilliant and experienced minds of fellow REI's as to how to establish a solid lead generation system.  

I would love to make a buy and hold work as it's been in the family for generations but also open to a sale.

Was it a system generated value from the bank?