Quote from @Sean Pedeflous: I own a duplex in Fayetteville Arkansas and the city is buying part of my backyard to add a trail which connects to a great local park.

I used a hard money loan to purchase this off market deal.I rehabbed the upper two units within two and a half weeks and have a renter already lined up for one unit.

The transaction netted near $1m but he had a 50% partner (not me, his sister) so he netted half (land transaction on large scale ADU development - https://www.cbs8.com/article/news/local/working-for-you/new-...). 

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

To answer your question about the market, well it's all over the place!

But in today’s market, with high interest rates and increasing home prices, finding a perfect deal that checks every box is nearly impossible.

This could be different in your state, always check with your local attorney.  

I am not saying you are wrong because I don't know the Cleveland market.    

I decided to begin my journey in Detroit, MI market.

Two years later, my units are 95% occupied, I am under contract to pick up a multifamily property, a new casino is coming to town and a couple thousands jobs are coming.I am not convinced Danville will ever become an emerging market but it does seems to be a consistent performer.