@Brad HammondTwo reasons: Price & LocationIt looks like you are in the glide path of the airport, with a 4 lane road in the back yard, and train tracks across from the 4 lane rd.Can you protest the property taxes to help on the cap rate?

That is a high speed thorough fair to get to the airport or Far East by avoiding 84.

Most people will want to be picked up at the airport?

Buy some cash flowing rentals someplace cheap and warm.I'll meet you at the airport, and the first round of margaritas are on me. 

This is the first forum post that I have ever tried to write in my life and I wanted to start here because at the end of the day, I feel I have a large opportunity but I cannot find anyone in my area who's done a deal quite like this before, and has no experience in this type of real-estate.Setting the StageI live in a more rural area on Washington State, yet we are within a 2-hour drive of Seattle, WA.I have boughten 4 acres of airport frontage in our local airport and I own it almost free and clear, I only owe $50,000 left on a property valued at close to $800,000, according to the county.Currently, it's bare ground with, power and internet to the property and I would need to bring out the city's water and sewer to the property.ProposalI'm proposing to build up to 8 (maximum allowed by FAA per acre size) condo hangars with direct access to the airport itself.

Where is the closest major airport Nicole Hoss? 

The area has a lot of nice older homes, the neighborhood and houses all look well taken care of, and the major area that everyone in town wants to live in with a mall and the airport is 20 minutes away.It's hard to find such cheap housing of course in a decent area close to everything and rents haven't been raised in 6 years, so I am running the numbers at $400/month per unit, 10% capex since I don't know the condition of the water electrical etc, 8% repairs, 4% vacancy, 10% property management.

I'm considering near Richmond (airport accessible), Charlottesville, Staunton, Harrisonburg (college town) or Ashburn (in Northern Virginia, airport accessible) due to family living in those areas and who could potentially visit the property if needed.

Sr 23.....lots around ANG and JIA airport in 32218., anything around an Amazon which Jacksonville has 2 so far.Anything by the Navy bases Mayport and NAS JAX.

Just steps from Crestwood Medical Center and Airport Road.