.- rent comps checked out vs the planned rent raise & reposition- comparable sales made the valuation of this deal attractive- the preferred return structure was in line with my expectationsI have other reasons which are more specific to the deal which I'd rather not disclose.

Take the remainder and attempt to get a 30k loan (totaling around 55,000) and purchase a couple more lower end properties but all will produce some cash flow.

If it's commercial I would say go with a white box reconstruction, that way it is an attraction to new tenants who would like to do a buildout, while still being relatively cheap (pretty much demolition, electrical, drywall, drop ceiling, ect.)If it's residential, I would start calling contractors right away to get some estimates of what you need done and try to avoid bringing up the fact that you will be receiving insurance money because then their prices just skyrocket.Let me know how things go!

I'm simply talking in generalities and trying to get some feedback from more experienced members before I venture out there into the wild world of land development and building.People say to start small, and I am ... small meaning 4 new construction SFR's, but with the right partner(s) I also have a different plan for 13 SFR's, ideally I'd like to do both, and plenty more after that.I have a simple yet attractive and interesting twist, something I haven't seen any other developer market in this fashion, and will allow me to charge a premium for these properties.

I'll never understand why people believe that real estate attracts so many philanthropists and humanitarians who are just wanting to help complete strangers escape the rat race.

Ask your self what class of tenant do you wish to attract to a class A property.

Granted, lending restrictions have change quite a bit and many of those stories couldn't happen today, but I'm high on that feeling that I can make anything work out of I'm creative and intelligent enough.On the topic of banks - what must I do to become more attractive to lenders?

That's why I suggested a bigger multifamily, they are income producing, unlike a primary 1 unit home that is income consuming.

Then a real earning opportunity will be yours as you are your own buyers agent on your next buy.So one year from now ,SPRING 2018, you could have a brokers license, some savings built up, a great tenant that probably wants to renew the lease on your former residence (at a slight increase ) and now you are ready to BUY YOUR NEXT INVESTMENT PROPERTY ( it will be your primary residence for at least a year) BUYING THIS TIME LIKE A ***SMART *** INVESTMENT SAVVY REALTOR-- you will never buy like a first time homeowner, again--but you will buy newer, easy to take care of, highly rentable , APPRECIATING properties that attract good quality tenants.  

The problem is it is outdated and sm for the area so it is not a very attractive sale at the appraised price  and rent would only fetch around 1200-1300 a month as a rental.