You need to be careful about where you're buying and what your expectations are.

(or if they're primary buyers, they don't care about yield, since they're going to live there.)i just went to visit two very distressed properties yesterday that i would buy.... if they were priced 50% lower.  

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I use Eric Kloth out of Redding and he is stuck with us for this and our future home buying needs. 

Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I wouldn't have any interest in buying something like this to hold since it would be so far negative cash flow wise on a monthly basis.

I have been wanting to buy this piece of land for years and it has recently become available.

.: As a contractor and flipper, I dont buy materials from retailers or online.

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

That way whenever you do find a deal you'll already have a list of buyers that are ready to buy and get a deal done.