Rents have been pretty close to what the housing authorities advertise, sometimes even a bit higher.Fort Wayne’s a solid spot with low taxes and good cash flow—definitely worth looking into.

Beyond the bedrock issue, soil conditions can be costly if the property has problematic soils such as too much silt, deep topsoil, or extensive wetlands.You'll also want to know what ordinances are going to affect your budget - things like tap fees, tree ordinances, storm water retention policies, etc.Bottom line is that you have to investigate ordinances, off-site conditions, and on-site conditions before you can even begin to budget your development.

(I even got a “top fan” icon.

So, even if he doesn't ever do another deal...he is still up $10,000!

Is your $15k even enough of an emergency fund for you personally?  

Or maybe even the "Commercial Real Estate" forum.  

If there isn't parking I don't even look at the house. 

The seller is out of state and even visited the project a few times to check on the progress which I think helped him feel good about the whole deal as well. technology made the whole process a lot easier in the interim.

@Raul VelazquezI would suffix what others wrote by saying that you need to understand that real estate really is a longer term wealth strategy - even though that is what you say you don't want due to your age / starting point.  

Dealing with warranty service is a pain in any situation but when you also have to deal with a tenant on top its even worse.