As others have said, the best thing your son can do is run far from this deal, buckle down, save his pennies (he probably already is doing this), house-hack, and improve a property with sweat, hard work, developing a DIY skillset, and self-managing tenants. 

I looked into this at more than one occasion, because Milwaukee has such an old housing stock, everything is 60-120 years old.Most of the new apartments we see are 4 and 5 star developments with very high rents, this allows to offset the high cost of construction a little better.

OK being a life long CA and selling and developing land here for 50 years..

My first self-developed software gave me efficiency.  

Hi FrankI paid 210K deposit for 4 lots , so I am very frustrated & it was recommended to me I would get a faster response from the builder if I filed a complaint with the divisions of professions construction industry in FL who will send an investigator out for a full investigation.

I'm trying to understand how they collect data so as to develop the best comping practices.

After awhile you develop a keen nose for ******** and you're the real deal 👍

Follow economic trends and determine which areas have the best opportunity for economic development and prosperity.At the end of the day, you're looking for investments with the highest returns. 

Plus, you get huge appreciation here based on how many companies are moving and developing here! 

With this data, develop your own lead gen system that works.