Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.

The Big 3 and others hit financial crisis and were retracting there footprint in the city.

We build a 2004 square foot stacked triplex. the footprint of it is less than 1000 sq ft. it fits on a lot that is less than 3000 sq ft and most of the time we do it with variances.

This is what ChatGPT has to say about post scarcity:"Predicting the exact timing of post-scarcity is challenging because it depends on numerous factors including technological advancements, economic policies, social attitudes, and environmental considerations.

We tore down our garage, expanded the footprint, and rebuilt.

Tech companies are continuously moving here and establishing a footprint in Columbus as well.

And than we have environmental impact studies, navigation of these, the various types of wetland delineations some being buildable or with mitigation potentials and others being absolute...

I don't much mind either way as long as the numbers work and the property is treated well.I've had decent luck in West Akron — once I got through the rehab headaches — but I have no footprint in Cleveland at all.

Is it the risk of environmental cleanup liability if there's soil or groundwater contamination?

Perform due diligence, including soil tests, environmental assessments, and surveys to ensure the land is suitable for construction.