So grand total of $265 max offer plus rehab? 

It's like he's saying "Hey I know all your new cars start at 20 grand but can I buy one for 5?"  

I find it hilarious when one of the renovation shows on HGTV show people sledgehammering their cabinets, and then having long, sad faces when the GC tells them it's going to cost 5 grand to relocate all of the ducts and pipes in the soffit that they assumed was just decorating the tops of the cabinets :D

@Jordan Foster it sounds like you should help manage the properties for the benefit of your grand uncle, without taking a bunch of profit from family members.

Side note: Anyone here from the Grand Forks/ Fargo North Dakota area and know of any BP meetups?

@Arturo Martinez III, that is fantastic that you are plugging away it, keep it up, in the grand scheme of things 1 year is nothing and to be debt-free, man, that will be so great.

After years of watching Grand Designs and practically every renovation show I feel comfortable in my vision of how the property will look, and the steps that need to be taken in order to achieve that look.My niche market that I have decided upon is  "Affordable Luxury".

I’d rather buy a house for 50 grand and make 800-1000 a month in rent equating to 300$ Positive cash flow per month in my pocket and have the tenant pay it off free and clear for me regardless of the economy ...then to spend 300-400 grand on the same size house in a hot market , have negative cash flow each and cross my fingers it’s still worth 400 grand or able to be renting when the economy is in a crisis.

your goals while commendable are not realistic the only way you do what your describing  10 million etc. is to become an operator.. and big time one at that.. real estate is a LOOOOONG game  not sure what or who put it in your mind that you could go from zero or basically a few hundred grand in seed capital to 10mil of free and clear props in 10 years.you may want to rethink your goals and get just a tad more realistic..

And in the grand scheme of things, it's not that long a run.