Are you in a market where water lines could freeze in the winter if there’s no heat?

I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

so i'll throw out my standard cold water.

New payment is 4150 including taxes and insurance 80 waterHot water bill is 125Rents 8350Very happy with my first BRRRR

Licensed with permits ~$4,000.Full replacement of all water supply lines and shutoffs from the interior water meter with PEX and an open basement.  1 kitchen 1 bath 1 laundry. 

Granted this was on plots of land I didn't pay for, and that are already connected to the city's water and sewer, so there's a lot of savings there, but I'm hoping if it turns out to be this good of a deal I can still scoop up land and keep going

The issue I see is smart contracts/tokenized real estate and traditional real estate investors is like oil and water.

If they suspend/lose their license, they're dead in the water.

So developers are building multifamily on these parking areas.Since these areas aren't located on top of residential areas, the zoning approval process has a lot less friction and resistance from NIMBYs.Here's an example in Rochester where an old Sears was turned into apartments for seniors.https://www.passero.com/projects/skyview-park-senior-housing...For multifamily developers, this could be an opportunity for building and partner with the mall owners.

You could easily be $100k in for water/gas/power/sewer if you’re talking 4+ lots.