In some areas, it is cheaper to buy than the cost of putting up a new building, let alone systems development and permit fees.However, I do have a suggestion:Take that stream and develop it into a nice park-like area with gardening and benches and a couple of foot bridges.Then, you market like that stream is a huge asset, and you'll get buyers saying, "What a beautiful piece of property!"

What do you think of these ideas:- Small bench on the porch- Paint the white vinyl siding a tan color (I was thinking just the front section around the door and window, and leave the carport area white.- Iron medallion on the front?

With a new location it's pot luck and it can go boom in sales or bust.  

The neighbors fear the buyers will grow pot and don't want the hassle.If you want the land to buy and hold you likely will not get much appreciation in your life time.  

Since conventional lending is out of the question (I own two cash businesses), I will need to sweeten the pot for potential investors on the property.

3. for those out there who are getting by paycheck to paycheck, but wanting to get started, do you really recommend not just jumping in at the first opportunity, but instead waiting until you have a pot of "reserves" at whatever level you recommend (see answer to question 1.).Thanks all.

Pots, pans, dish soap, silverware, plates, cups. 

If the tenant damages them or breaks it, don't forget you can take the cost out of their security deposit, but since something like a range is subject to 5-year depreciation, it would only be the non-depreciated portion of the cost.Dawn,Three things we have noticed/learned about smooth-top ranges in rentals:1) Unless your tenant has 'desent' quality cookware with flat bottoms {read: bottoms thick enough not to warp}, their pots and pans will rock on the smooth-top range {rocking pots of potatoes spill more onto the cook-top}.

Your insurance carrier will defend you and your defense costs, court costs, bond fees, etc are paid outside of your liability limit (they don't take away from that pot of money being available for payment if needed).

Hello Mike,A cracked granite countertop is definitely not normal wear and tear.This can be caused by placing a very hot pot on the granite countertop.