@Timothy Doenges Yes I would do this deal but I would obviously low ball even more if I could.

., $88,333/unit) After Repair Value: $325,000 Purchase Costs: $7,950 Rehab Costs: $0 Down Payment: $9,275 Total Cash Needed: $17,225** Financing ** Loan Type: Amortizing Loan Amount: $255,725 Loan to Value: 96.5% Loan Term: 30 Years Interest Rate: 5.25% Monthly Payment: $1,412** Cash Flow (Monthly) ** Rent: $2,750 Vacancy: -$275 (10%) Expenses: -$1,348 (54.5%) NOI: $1,127 ($376/unit) Mortgage Payment: -$1,412 Cash Flow: -$285 (-$95/unit)** Returns & Ratios ** Cap Rate (Purchase): 5.1% Cap Rate (Market Value): 4.2% Cash on Cash Return: -19.9% Return on Investment: 243.2% Return on Equity: -4.1%EXAMPLE B: All units rented** Unit Information ** Total Units: 3 Total Square Footage: 0 1 Unit: 3/1 (0 sq. ft., $1,500 Rent Per Month) 1 Unit: 2/1 (0 sq. ft., $1,250 Rent Per Month) 1 Unit: 2/1 (0 sq. ft., $1,250 Rent Per Month)** Purchase & Rehab ** Purchase Price: $265,000 ($0/sq. ft., $88,333/unit) After Repair Value: $325,000 Purchase Costs: $7,950 Rehab Costs: $0 Down Payment: $9,275 Total Cash Needed: $17,225** Financing ** Loan Type: Amortizing Loan Amount: $255,725 Loan to Value: 96.5% Loan Term: 30 Years Interest Rate: 5.25% Monthly Payment: $1,412** Cash Flow (Monthly) ** Rent: $4,000 Vacancy: -$400 (10%) Expenses: -$1,648 (45.8%) NOI: $1,952 ($651/unit) Mortgage Payment: -$1,412 Cash Flow: $540 ($180/unit)** Returns & Ratios ** Cap Rate (Purchase): 8.8% Cap Rate (Market Value): 7.2% Cash on Cash Return: 37.6% Return on Investment: 300.7% Return on Equity: 7.8%

Jarid,Welcome, not sure where you are landing in Montana, but if it is Bozeman let me know. 

Then they contacted me again and gave me a super low ball offer and I countered with almost double. 

At the moment, I focus on the vacant land.

Good morning,To be honest,  in my 1 year of experience, this method is a way to get a "ball park " figure.  

plus in low value asset land of the rust belt middle America I can see where this is a benefit you can literally buy a house on a credit card.. that I get.. then flip the sucker make 10k or so that is a good use for those. 

In michigan we have a farmers only credit union, they do it on vacant land deals and purchases on vacant land deals, best rates around. 

I suspect you thought you would be staying in Nebraska and life threw you a curve ball, right?

Change your name insured to the land trust.Later you will assign the beneficial interest of the land trust to your LLC.