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Why don't these $300's in Medina interest you if you can build at the rear? Is the product at the rear not in demand? Or is the area just very dodgy and not your cup of tea. Sounds like easy equity?

Yes $50k off asking price doesn't mean you got it $50k below market value, property could of been $100k overpriced to begin with. Which is why low balling doesn't really have too much to do with BMV.

Bang on! $5,000 on a development site is peanuts, if $5k extra is going to throw out your profit margins then you shouldn't be doing it in the first place. Nothing wrong with offering at asking price or above if it's worth it. $5k or a little bit more isn't going to hurt the valuation either.

Low ball, at asking price above are all really irrelevant. You need to know the market you're purchasing, who you're purchasing from and why they're selling. Once you know these you will be able to determine value, the asking price is just an indication. Once you know the value of a property...

Rent for $280-350p/w pending condition and renovation. Ingle farm is going through some nice gentrification, alot of the older big blocks knocked down and nice new houses built. If you have question regarding Ingle Farm, maybe start a new thread or ask in the Adelaide Investment Suburbs...