Capex is major items that wear out.

My criteria for the first investment:3 bedroom 2 baths (at least 2 bathrooms for resale value)In a decent upcoming neighborhoodIn the 150k – 250k rangeIn Bentonville, ARSome preferred qualities: 1) no major renovations, 2) have more expensive houses surrounding it, 3) fenced-in yard.How did you find this deal and how did you negotiate it?

As a former bank teller for a major bank, I am aware that few people read the contracts that they sign. 

The land is approx 25 mins outside of a major tourist town (Asheville NC) and zoned open use so hopefully no issues there.

@Iwona Vyroubal The major buyers of mortgages will not allow cash out refi before 6 months.

We are both working part times wholesaling, bird-dogging and plan to attend community college together this fall to major business.

Nothing wrong with the property or major repairs needed.

Nothing wrong with the property or major repairs needed.

It needs major help or just scraped.

Furthermore, If you go to any of the major real estate websites-zillow.com, realtor.com, trulia.com, etc-  you can find vacant land listings their as well.