For my final #'s I figured a 6 month holding time; but hopeful to retail it way sooner than that.

The retail landscape is changing drastically and a greater amount of retailers are becoming extinct.

:)To be serious, I like Jon's take but for some reason, I just do not get excited about a 20% annual return that is not completely passive and being a landlord with a forced appreciation play is a very active play, not passive.For me, I would choose the path I am on now which is flippig REO's ro retail buyers for maximum profits.

You must have an experienced individual run through the property and give an accurate estimate of repairs (and it must be based on the exit strategy, ie. if a retail flip, then rehab should be based on that, if a buy and hold exit to a landlord, then rehab based on that quality)

there's one about half block from 1 train.. 80% renovated when the developer ran out of money (it's in good shape).. contractors estimated about another $500k work into this 5 story townhouse.. two 2bd 2ba floor thru unit and 1 4bed 3 ba duplex with roof top terrace.. plus a ground retail space..real estate agents estimated the rent in this area for 2bd 2ba is at least $4200.. and duplex at least $16,000 .. retail unit was already requested by a chain coffee shop for $12,500 .. annual expenses around $53k.. 7 and up cap rate.. bank wants $4.6mil.. which is way below market rate (local brokers estimated $9mil FMV when it's completed).. question is.. how to do this deal with no money down??

If you are going to keep up that type of pace you will have to start looking at your company as a construction company who also manages property.While I do not work for others, I consider myself to be a GC and a PM.

Overall, we average about 18% discount off retail this way.

Or minimal rehab and retail?

I'm a real estate attorney specializing in retail leasing - mostly from the tenant side.

I just bought a property for 20k and table flipped it to a retail buyer at a little less than 30k, AVM should of been a little closer to 35k, but I think this property fits into what you are asking about.Anyways, this particular house sold for 40k back in 96 and resold in 04 for 75k.