Lot Cost $700k, Build cost $400K exit $2M+ This deal works because the neighborhood is full of solid comps of $2M. $500 per squareMight be partnering with Jory Sandusky's architec on this one.

In my case I only want to buy in a few select neighborhoods that are close to where I live.

Its not like selling a house where the list price and eventual sales price are rarely the same. ...That usually works, but I've seen ridiculous asking rents that no tenant would be willing to pay; for example, in a roughly $1200 neighborhood for "fair" rent (+/- $50 or $100), and somebody asking $1600 - tenants aren't willing to pay that kind of money way over the "fair" rent in that area.

A new Whole Foods was recently announced in a neighborhood surrounded by blighted and vacant properties.

There are some potential rental property areas, too, but I was warned they weren't the best neighborhoods.

So if you're married to a specific area, then you may be married to the property tax rates there as well.Keep looking as you may find adjacent neighborhoods with lower tax rates simply because they are a different neighborhood.

I do too now an then.Also the Metro / GA wide REIA I'm also a member:http://gareia.org/membership/membership-levels/I'm member of 2 REIAs because each offers different styles of helping me and networking.Good luck, Curt

Mailers to specific zip codes (preferably low income neighborhoods) asking if they want to sell or know someone who does 11.

It was not on purpose, but it worked out very good for us to go FHA for our first and then VA for our second now that we make more money and can afford a better house in a better neighborhood.

Not my style of house but Im sure someone else will love it.