Price difference:Raw land - $8-12k/acreSubdivided Land - $25-30k/acreFully Developed Lot - $150-195k/acre (3 - $50-65k lots per acre) - Retail priceBut if you develop the land, you can sell 3-4 lots to each of 15 builders or all of them to one builder. 

The worst part is that I can't tell what the local politicos are doing about it, apart from each party blaming the other party for inadequate responses.Although Milwaukee is a short 80 miles north of Chicago, the two cities are dramatically different.

You need about $80K in cash to buy this thing, unless the seller will carry some or all of the financing.

I'm wondering if I should be figuring that into my cash in cash return since I will need to bring it to close, but will eventually get some or all back on a sale?

Seems most LL’s would take a cookie cutter tenant over me even if most or all the annual rent was forked over up front.

I say look at some nearby markets in SC or AL, join up with some REIA's, find a realtor you can trust, and let that person help you go from there.

Now you've got most or all your starting money back. 

Right now loan rates are pretty low a"nd it might be a good time to take out a loan.I think an investor will probably "low ball" offer on your house that would make you lose most or all of your equity. 

@Casey DeStefano Most or all foreclosure sales in Auctions are cash only.

Usually the sellers lender factors those in the calculations for the short sale, but sometimes the buyer will have to pay some or all of those..