Although I'd bet the failure rate is much higher than 80%... 

I wouldn't feel like you need to be an expert at these before you start making progress.- LLC: If your intent is to be in the land business long-term, it's a great practice to have one of these in place... but again, I wouldn't say it's an absolute necessity (and frankly, it can add a lot of complications and confusion, especially when you're just getting started and trying to figure out what you're doing).

How has your lease option progress gone in Cleveland?

Stockton is block by block and you're best bet is to drive those blocks. 

If you're looking to stay on the eastern side of the city, Manchester is probably your best bet.

The single package HVAC units might be your best bet since they can be all electric/heat pump but you'd still have to install the ductwork, but it is very high end and takes very little space.

Mike ONLY way these types of properties go up in value is if your lucky enough to buy in path of progress and they regentrify or rents go up substantially the locals will only buy them at the 2% rule or there abouts.. there is no up side and cap ex will kill this deal.. you simply cant buy these kind of assets with no positive cash flow you will go negative in a hurry.. 

We look forward to connect with people here and contribute back to this forum as we progress in our real estate journey.Rupa Nair

We look forward to connect with people here and contribute back to this forum as we progress in our real estate journey.Rupa Nair

My guess is they could be international investors that need to park their money somewhere stable or people betting on further appreciation?