What is the cost?

It's just the cost of doing business.  

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Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender How did you add value to the deal?

I have 0 experience ground up construction loan program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable. 700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units.

Based on my experience of running properties, even if the build were to cost you as much as $600k but you could generate $125k/year, you'd be very happy with that investment. 

That's direction I'd advise exploring, not how to do it all yourself as an island, but as a facilitating power.

The land is being sold as the investment is costly with all the illegal dumping and clean-up cost.

Delapidated building not worth the cost of demolition.5.

No management costs as it would be self managed, and estimated property taxes by the average of the past few years.