It's possible to turn a profit if you buy a distressed property and "flip" it to yourself.I bought a 3 bedroom, 1.5 bath with garage conversion as extra living space. 

In that case, coming in and turning around the property is not as hard of a play. 

So I inherited a squatter at closing.He was listed as “boyfriend” of previous tenant on lease I inherited from seller.Problem is that lease expired May 2018.The original tenant on the lease moved out on expiration of lease and i never met her.Now this boyfriend is late on rent.He’s technically not on lease.I’m planning to ask my agent to post a 3-day notice on Monday.But I’m not sure that even applies as technically he’s not my tenant as he never signed a lease.Has anyone dealt with this situation?

They turned out really nice and sold fast but we didn't make any money.

Sign me up !

we do a lot of infill building.. this only works in HIGHLY desirable areas @Wayne Brooks  as Wayne states not sure were your thinking the value play is here.now there are plenty of folks that buy cheapo lots in FLA like Lehigh acres then sell for a few grand more on contracts those are the land flipping guru's you see that's what they teach.. and there are millions upon millions of lots available for this type of activity generally in FLA  and West Texas  AZ CA and other areas that had massive land speculation booms in the turn of the century.. think Lancaster Palmdale in CA there are million plus platted lots there that get traded around at tax sales every year.to find land with value to builders you need infill in established areas.. close to down towns.. in areas that are regentrifying .. lots that have shadow plats beneath them. or you can split using a lot confirmation technique ( common in Portland)  you need to work areas of Scarcity .. 

You can sign a bare trust at the lawyers for a few hundred bucks to be secure.Unfortunately, if your name is on title, then you need to service the debt. 

Turn over vacancy is how fast you can fill in after clean up every 2-3 years.

that would be great, I'm 28yrs old, so 48 is still good to retire, but my daughter will be grown and gone, and no amount of money could let me live her childhood again, or turn back time, you know where I'm coming from?

You personally signed for the obligation and that doesn’t change with a change in title