The case will put the kibosh to a great many “IRA Stuffing” schemes – of which I have seen a myriad.Basic DescriptionThe transactions in this case were pretty typical for a lot of what we’ve seen in Tax Court cases – and the Tax Court was clearly sick & tired of dealing with it.

Typically you want to see the rent be 1% of the value, so you would need to be around $4300 to make since for a rental.

The high property taxes in Bayonne (typically in excess of 1k/month for multis) already make it very difficult to find positive cash flowing properties on the market.

Remember the mentality of your tenant is a reflection of the property. 

These surfaces are typically scraped but you could also replace them based on cost estimates. 

@Arturo Borges, I was recently at a presentation by a good sized local developer here in Memphis and he said they are typically selling homes at 4.5x the land cost (does not take into account custom builds or higher-end homes). 

@Angie Brooks is correct, typically you would start with an LOI. 

When I talk with local brokers, they typically only know of the local/regional tenants looking for space rather than any national tenants.

But haven't explored this option.One question, what is a typical ROI you look for on Investments around RVA?

In case it's not clear from my post,  I admire your honesty,  directness and self reflection.