When it's time to sell, doing the rehab/cleanup, etc.. is a pain when you are depending on some third party to do it, and monitor the work.#2  Passive vs. active.  

My investor friend is asking $10 per sq footI spoke with a commercial banker/investor, and he said he can fund 60% of funds for demolition and to build a new infrastructure on the land.

And then after pulling the trigger, again be it Buffet monitoring the firm to see if he wants to pull out, or one of our BPers taking care of their property, this is also "work."

Will monitor  this thread because I could be in the same boat or I may use mine to buy outright or use it to buy a few.  

I would make sure you button up the sale docs and ensure that you are not only secured on the sale but make sure that your docs give you an opportunity to monitor the continued conditions of the building.  

Actually buying in a place I lived before moving to CA, it has had very strong long term growth for many years and I already have all the necessary infrastructure in place (agent/mgr, insurance guy, etc.)

I have to do the due diligence with the city to make sure the allowances for water, sewer, electric infrastructure can be accommodated.

., contact me via PM and I'll send you the url to our meetup group or just browse to meetup dot com and search for "seattle note investing" or add the path /Seattle-Note-Investing/ to the main meetup urlApparently the BP monitors consider posting a url to an educational meetup to be advertising so they removed my last post.

Other  programs like Section 8 are more involved and you would not need to participate in that program for your rentals unless you want to, it requires quite a bit of monitoring.

As Chris mentioned, the infrastructure costs could be significant.