Condo is in a great shape and would need minimal annual repairs with everything external covered by HOA.

I never buy a tax lien on a vacant house unless the value of the land exceeds the cost of the tax lien, sub taxes and cost of demolition.

Land in michigan is less than in texas , north texas.I will give you examples on cost differences.Material prices are the exact same price if not a little less.texas framing price per sqft $2.00plumbing $9500hvac $9500concrete Labor only $2.00 per sqft  Concrete $180yd 5 sackdrywall $10500Electric $8000Ok here are the michigan prices , better sit down.framing $13.00 sqftplumbing $25,000hvac  $20,000concrete is about the same for materialdrywall $20000electric $25000Both quotes were for a 3/2/2 home with 6/12 roof hipPeople in michigan wonder why houses are so expensive , its because of the sub contractors.The plumber only has about $5000 worth of material to do a whole house but yet there still asking for $25000

The project known as The Majestic will reshape the south end of Wenatchee Ave with new dining and retail options, underground parking, and a five-story apartment complex.Pangborn Airport is looking at a $30,000,000 investment to lengthen the tarmac so 737s can land.

Only thing investors have to control is the cost of land. 

The land is owned outright, I'm not going to mention the acreage but it's prime land bearing mangoes, oranges, grapefruits and coconuts seasonally.

It worked well because it was a rental they were renting for someone else, when the land lor decided to sell I didn't want them to move so I bought it.

If it either ages in a worse shape than it is now or I get ready to sell the building I will have to do something else.

I also always worked in construction in some shape or form (i grew up in it) and frankly I just love doing the physical labor.

I also suspect home prices would initially rise on the first 1-1.5% of cuts, but ultimately fall once we get to the 3-4% range as large  pre-pandemic supply comes back online, compounded by boomer land lords selling realizing the top of the market is in the rear view mirror (at least for them).If you eventually get squeezed on lower rents and valuations as the market normalizes, the ability to BRRR your pandemic era deals will be limited, so how do avoid trapping capital in the deals you already own from this environment?