If it was a junkyard, gas station, wood treatment facility, transformer factory, etc, it will be contaminated. a few months ago, i saw a default notice laminated and ziptied to the fence of a large residential MF project in Kitsap county, so i looked it up.22m dollar default!

So we decided to transform our large storage closet into our new office space and turned what was the original office into a second bedroom to list on Airbnb.

If you look at how Washington, DC has transformed over the last 20+ years, coupled with many other macroeconomic and demographic factors, it is simply a matter of time before EOTR becomes more gentrified.

But the hipsters are moving in and this neighborhood will be totally transformed in 5-10 years. 

It would transform that kitchen and add the value you're looking for.

You want at least a 30% margin above costs and the NOI needs to be enough to pay the debt service after stabilization and then some.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

Do any other real estate investors suffer from unhealthy frugality and how to I transform my relationship with spending money?

You have other immediate issues in the neighborhood compared with Rogers Park but 10 years from now that area will be completely transformed.

--Gastonia Technology Park (GTP), the area’s premier business park, has transformed into a center for international businesses.

She said it's "a six part series following the journey of the town and everyone involved in transforming these empty properties."