Kerr - thank you for helping me - having a second set of "Experienced" eyes looking at an opportunity helps to reduce the "Fear Factor"

Loopnet is owned by coStar ... it won't give you a detailed report, but you can get an idea of what others are asking for.

@Jimmy Ready The Pro membership of rentometer has a more detail summary of the comps by property type and addresses included. 

So I’m diving in with open eyes and open mind.

Gastonia although it does show some great looking cash flowing properties it is a bit far away from the major colleges.You do have a great point about networking, it helps to get deals before everyone else gets an eye on it.

In the eyes of the law his slate is cleared.I would not close until the tennat is evicted unless this is a once in a life time deal.

I would look at your contract with the contractor to see if there is any clause or details regarding change orders.

Not a great deal through my eyes. $300k out of pocket for $700/month and very little equity when factoring in what it would cost to sell.

It would be nice to share ideas.A few more specifics: - I’m interested in single-family or small multi-family dwellings in A or B zones- The closer to the West Coast the better, but that said, I’d be willing to go all the way to Nova Scotia if that’s where the math works best...ideally I’d like to follow the one percent rule - Random detail: I’m actually a poet looking to support my writing habit through sound investing.

One added detail is this other couple are family (my husband's sister) so we need everything written and laid out clearly but with the assumption we will operate within these boundaries without going to court...meaning we don't need every word to be air tight but need it to be clear cut (as a side note I'm not interested in hearing about horror stories of doing business with family, I have done real estate business with family for over ten years and am fine with it).