Target neighborhoods like Brewerytown, Kensington, and Point Breeze, where demand and ARV potential are currently strong.Your skills in renovations will give you a significant edge in controlling costs and boosting returns.

Parents and sibling died in the home.

They agreed to pay in accordance to the lease and failure to manage to the lease is the #1 reason why landlords fail (Source: American Apartment Owners Assn).Cowboy up and stop having the tenant control your ROI.Best.

I am remembering a lawyer friend advising her parents on land issues.

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

Weigh convenience vs. control—your renovations and location set you up well for long-term growth! 

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

You can expect that you will be required to build roads, sidewalks, storm water control, utility taps, street lights, street trees as well as recreation fees as part of the development process. 

Like you I also have the RE license to keep some of the commissions and better control. 

I also like contractors that have packets that allow you to pick out the stuff that you want to use for that project, which reduces the quality control process..