I’m hoping to not build until I acquire more revenue from profits of the plot via flea market, parking, boat parking, or something else that requires minimal investment.

The DSCR program "Must use the lesser of the two either common rent from the appraiser 1007 rent schedule form on the appraisal or the lease".You also have to factor in the taxes and insurance because a guesstimate or ball park can kill the approval. 

In my devious mind, I thinking like you that I hire a parking attendant, install gates and charge an entrance fee if I bought it. 

You may pay 1.5m and up for a good one, likely more if parking and balconies, but the play is to buy a multi and then wait and in a few years, turn them into condos and sell them separately - that's how you make the money there.

Our rent-by-the room residents appreciate a lockable bedroom door, a private bathroom, sufficient on-site parking, a large refrigerator and a large washer and dryer (in order of most to least important).

Those buying close to the city are either breaking even or taking negative cashflow and banking on appreciation (or buying all cash and parking money, ha).If you do consider Lowell, I'd also recommend you check out the Fitchburg/Leominster area as well.

Chicago has so many awesome neighborhoods and Humbolt Park is definitely one of them!

In particular Overland Park, Olathe, Lee's Summit, Blue Springs and North Kansas City.

So picture this @Kevin Rodriguez, someone strolls up to you in grocery store parking lot and says "Hi, nice to meet you.

Clayton county and the south part of Fulton (specifically College Park) have been great for us.