Owners didn't see the value in the lot, because the demo and water liens were so high, that they were fine to just get anything - because they had already given up.

The tables have turned and it's a buyers market now with values flat or declining, much longer days on market, price drops, listings expiring, very rare to see full price offers on new listings, etc. 

Taxes are half the cost compared to CA and insurance is lower if not by the water.

Have you considered dropping by one of your local REIA meetings to see what lenders your peers are using?

On top of that, the water pipes are on the ground, which is not allowed; they should be run inside the walls.

Yes, you can drop the price, but then the numbers don't work.

Hi Noy, I'm not active in the Pittsburgh market, but just wanted to drop in to say good luck!

I see a ton of sellers and listing agents overpricing homes and end up with big "price drops" back to reality.

Those are buyers not renters unless there is some other circumstance.I think you are right about supply....apartment construction is just about to come to a halt and unless interest rates drop in 1/2 probably won't see that pickup for a while. 

So you would spend around $25-$30k a month (this was 15 years ago) on police details and require union gate and non union gate if you had non union workforce as well.In DC area, the utility providers are a huge challenge, whether getting permanent power, or water/sewer service etc - good luck.