A 5000+ sqf Triplex located in the Tremont Area of Cleveland.

My portfolio consist of duplexes and single family homes, and one STR, however this will be my first renovation other than minor touch ups. 

I grew up in Berea and lived there for 25 years. 

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

Quote from @Blake McWilliams: Using and running a CRM is what you need to help the business you have in real estate grow.

I also invest out of state.The concerns you bring up are valid.

I focus almost 100% on my pad ready land cost to come up with profitable deals. 20% of gross development value is the most I will pay for land.

Underestimate the costs and come up short needing the funds?

If a seller wants to sell for future value they need to do what is necessary to bring the value up to that price. 

Any idea where the information was coming from?