Jd Martin Month cost for hold will be 650 roughly so one vacancy would put me in the red

Glad it's working out - I also heard the rental market is red hot in that area.

Generally though these custom programs tap into title co data bases ( think Fatco) and with a few clicks you have a lot of information on the property. some tie into Zillow type data as well along with Red fin.. showing you MLS listings and solds.its pretty cool really.. and separates the folks that do it for a living from those that are just trying to buy a house or two a year.

Most of my buyers stay out of war zones, not to say that you can't wholesale properties in the ghetto but it's a little harder usually.

To put it in Rich Dad Poor Dad terms, you trade 4 green houses for a red hotel.The basis of what I was referring to was a mid-term strategy instead of a short term or long term strategy.  

The first thing to do is check the zoning for the area - are rooming houses permitted?  

Pete to be an oddly zoned market.

hello, im a hvac /plumbing contractor and have done rei in the past and present. here is my idea and question. we have a property free and clear that  is 3.5 acres with income of $2500.00 of rent per mont on 4 old buildings. we did a market analysis and plans 3 years ago to build 72 apartments. everything looks good as far as zoning and city permits. the budget was 3.2M the property itself is worth 450k and the bankers gave us green light.we didn't move forward with it because os the risk of it, we forecasted that we would end up owing more than 2.5 M and we did not wanted to risk that much by ourselves. 2 years ago someone built 30 apartments lest than .5mille away from the property and they have 75-80% occupancy already.talking with my wife we come up with this idea, since we know construction business owners on almost all the trades and have done business with them and a person familiar with apartment building construction on the past. we would like to form a partnership with couple of them where they can own part of the business in exchange of their work (trade) and if any one wants to be more involve and want to put hard money their % would be more.do you think it can be done any legal issues? 

If it is zoned duplex you can easily convert it back check show your plans to the building dept for approval and advice 

Could be an illegal use too if the zoning is limited to a two family duplex.