Each of the 5 warehouses on this campus will require updates (construction of offices/bathrooms, roof repairs, paint, siding repairs, new penetrations for doors, updates to electrical, insulation, and extension of water and sewer). 

I'd start by refining your search criteria, researching the surrounding markets, and comparing them to what best fits your needs, etc. 

Potentially interested in surrounding markets.

Reward: Assess whether the uncertainty surrounding the current occupants, title clarity, and liens aligns with your risk tolerance.

To rent the home, I would lose about $2,500 per month (based on comparable rents in my area, property management fees, etc).Both options loose the same amount by roughly 2 years, and by this time, I still will not have built up much more equity in the home to make selling it a break even unless there is price appreciation by then.My dilemma is this: I speculate that my home will not appreciate much in the next 3-5 years due to the rapid pace of development in the surrounding area.In 5-10+ years, maybe, but by then I'll have bled $150,000 - $300,000.I have thought about this a lot and feel that I mar'-too close to the problem to see the best solution.

Also, if it's Lennar, be prepared for problems, insulation issues and therefore paper thin walls. 

That growth is unevenChase JordanFri, January 24, 2025  The ever-growing Charlotte region is home to 3 million people, but the population is projected to swell by more than 50% over the next 25 years, according to local researchers.By 2050, some 4.6 million people will be living in Mecklenburg County and surrounding areas, the Charlotte Regional Business Alliance said in a report released Thursday.

With  one property, a hotel that doubled as a homeless shelter one neighborhood over shut down and has caused problems for the surrounding areas.

My plan was to keep the condo as my residence, but after a year, refinance to fund a down payment on a multi-family property, either out of state or in the surrounding NY area.

Charlotte, NC, and its surrounding areas continue to offer exciting opportunities for real estate investors.