While we were onboarding the property to the system and trying to figure out the automated sprinklers, he was out there every day watering the lawn by hand, stopping the buck and taking personal responsibility. 

If they suspend/lose their license, they're dead in the water.

Granted this was on plots of land I didn't pay for, and that are already connected to the city's water and sewer, so there's a lot of savings there, but I'm hoping if it turns out to be this good of a deal I can still scoop up land and keep going

Pick one that is improving, homes being renovated and flipped, vacant storefronts being turned into cool coffee shops etc.Good luck.

Licensed with permits ~$4,000.Full replacement of all water supply lines and shutoffs from the interior water meter with PEX and an open basement.  1 kitchen 1 bath 1 laundry. 

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.

Who knows, maybe you use that money and invest into a new type of toothpaste that blows any RE investment out of the water.

Many people have a mortgage on a property where the land value is much greater than the home (aka near the water) and insurance is not able to pay off your entire outstanding mortgage.

You could easily be $100k in for water/gas/power/sewer if you’re talking 4+ lots. 

Are you in a market where water lines could freeze in the winter if there’s no heat?