I finally sold it for a small fraction of what I paid for it, but I was out from under the HOA fees and taxes which at about $1,700. per year, which is a sizeable sum for me, and as we know, these fees increase every year.Bottom line is, DO NOT purchase property there for an investment. 

i guess you could call them, like a newborn, kid college fees something of that nature.I made the mistake of not looking into that before i bought my duplex, because don't forget that with homeownership/landlord comes recurring expenses on that property,and you're life surprise expenses somehow never stop coming lol, so i'd make sure to put money aside for that and not sacrifice it for the sake of profit.

Also what would you estimate for architect fee for 1 acre lot with utilities on-site and for 8k to 9k sft retail strip.  

And then there are the flea infestations and used syringes hidden among the trash.

Look into factors like vacancy rates, local job growth, and tenant demand to pinpoint promising markets.Once you find a property, work on running the numbers carefully—factor in purchase price, rehab costs (if applicable), property management fees, and reserves.

- What are some hidden costs associated with purchasing unimproved land, such as property taxes, closing costs, or financing fees?

@Dennis GallagherIt's my understanding that the "Income-Expense Ratio" primarily use operating expenses as the expense variable, which includes costs like utilities, property taxes, insurance, maintenance, repairs, property management fees, and trash removal, all of which are considered when calculating a property's operating expense ratio (OER).You calculate OER by dividing the total operating expenses by the gross operating income of a property.

Running detailed cash flow projections, factoring in their management fees and expected rent increases (you can use some of the great BiggerPockets Pro tools like the calculators to do this!)

Just some wire fees and maybe termination fees from the custodian and your time to consider...

Are you paying any utilities as the owner, aside from water and user fee?