I believe they will be more appealing now as more start to see the advantages of Ferry service and WFH.In NYC, large institutions had already begun decreasing their footprint.

In addition to the deposit, I have spent ~$20,000 to acquire the property including inspections, phase 1 environmental, bank fees, attorney fees, etc.

Big government projects like airports can take years longer than anticipated.It is not uncommon to see investors who think they have gotten in early and picked up a huge deal run out of money as the development they were counting on near their property takes way longer to happen then they thought.The DRI process alone can take years and it only takes a small group of citizens or an environmental group to bog this down even longer.I'd pursue option contracts with clear language to extend the option for many years in situations like this.

There is probaby something you are overlooking...environmental waste issues with the property...city plans to take the house under eminent domain...something.

Expect a lot more Flint Mi style demo's to reduce footprint/infrastructure requirements.How today's Bank closings compare to the 1987 era.

Go through the zoning and subdivision process, where you will need, at the minimum a civil engineer, surveyor, and environmental consultant. 

We were able to purchase this gem due to a short sale.This is the back of the house with the garage.Front Entrance to each unitUnit #1 ( First Floor which will be our unit )Living RoomDinning RoomKitchenBathroomBedroom #1Bedroom #2Here are the pictures of the second unit the day we purchased it.Unit #2 Entry ( The rental )Living RoomDinning RoomKitchenBedroom #1Bedroom #3Both units have the same footprint, except the second floor has on more bedroom above the main entry of the home.I also incorporated plans I personally drafted up so readers can gain a sense of all of the rooms and our design intentions.

The easiest way to avoid liability for environmental issues is to have an engineering firm perform a phase one.

If it's a commercial deal or larger multi family it can vary as much as 60 days for environmental studies etc.As far as wholesaling is concerned  I'm an agent so I can't comment too much on that, but there are plenty of people on BP that will probably chime in shortly.

I've posted on this topic many times and as an investor and attorney, my opinion is generally to wait unless the property is over $500k or a commercial property which could havce environmental issues.