it was a over renovation, flip that turned in to a rental...but second time on market we sold it with a parking space and made $1500, in my 3 yrs of owning it.

If it was $1M with capital available for other investments, it would likley go towards an apartment building, commercial unit, or perhaps a mobile home park.

I always look at crime stats within a 1 mile radius of the property and then what is around it like shopping, schools, churches and parks.

Parking on the lawn?

I read that Sam Zell is the largest holder of office units, the largest residential unit owner and the second or third largest mobile home park owner.

Two large arenas and dorms at two colleges, 3 high end residential subdivisions, our first highrise, the federal courthouse, the Cardinal baseball park, theater for the arts, water fountains for the city, I just can't name them all.

Not to mention some great looking out of the box themes.

We might use River Bend LLC, or Pheasant Crossing LLC, or The Woods LLC, The Cliffs at the River LeBeau, Lincoln Park LLC, or Waverly Meadows LLC.For rental perhaps you have several on Main Street in your town, possible names would be Main Street LLC, Chicago Main Street LLC,or if your building is at the intersection of Main & Lincoln Street, something like Lincoln Main LLC.

It's about 7 pages long, mentioning late payments, max occupancy, smoking, insurance rules, where/what can be parked on property, liability, fire pits, pools, late pay.I'm sure some professional tenant could still screw me over since I'm not experienced.

In this case, there were not enough, but did have MLS Comps.Let's take this home for example:#### Petseri Park, San Antonio, TX 78251•Listing Price: $194,900•Age: 2 years old•Bedrooms: 5•Baths: 2•Living Area: 2,766•Lot Size: 8,067•Type: Single Family Residential - two story•Garage:2*** BOA's Estimate Range $177,450 - $212,550•BOA's "This Home Estimate": $195,000After CMA sift:•CMA #1 - 8935 Deer Park, SATX 78251 - A 4br 2ba Living Area: 2,641 sq. ft. home - Sold for: $93K on 08/31/2012 (THIS WAS A FORECLOSURE - BOUGHT @ STEPs - CMA - NO GOOD)•CMA #2 - 2411 Sage Hollow, San Antonio, TX 78251 - A 3br 2ba Living Area: 2,337 sq. ft. home - Sold for: $232K on 08/31/2012 (ONLY COMP THAT CAME CLOSE)*** Zillow's Zestimate® @ $193,856*** Tax Appraisal has it at $201,970 (last few years)*** Trulia info •Average listing price for similar homes is $196,983•Average listing price for all homes in 78251 is $198,440•Averages: within 0.54 miles homes avg. price at $196,983 with an avg. of 4 bedrooms and 2.83 bathrooms @ approx. 2,582 sq. ft equaling $78/sq ft. with an average build of the year 2006.*** MLS CMA last 6 MONTHS @ AVG $208K - Also MLS statistics show price/sq. ft. @ $71 (actually up from 2011 @ $67/sq. ft.) = just over $196K for this Subject Property.In our case this HOUSE was BASED on a NUMBERS RANGE FROM $194K-$208K - AVG. $199K (DID NOT INCLUDE OUR BOA COMP - REMAINED CONSERVATIVE)•LOCATION: EXCELLENT•SCHOOLS: EXCELLENT•CONDITION: EXCELLENT•PRICE: EXCELLENT•AREA AMENITIES: GREATIn my opinion, this house should be marketed at 5%-10% below my estimate which should range from $179k to $189kTHE AVG.