Ironically some of the best deals come from properties that once failed a perc test and are considered unbuildable for that reason alone.  

Hi Richard,I am an investor myself and was born and raised in Cleveland.

We have another park with a free space rent manager and as we have raised the rents he continues to live there for free. 

Attitude and professionalism are paramount; product knowledge next, and then there's your contact/follow-up systems.Put that together, price-test against the market, and you'll have a sustainable, constantly expanding, and very profitable venture.Good luck! 

@Stephen Keighery makes a point that it may not be a good time to sell, but I recommend you test the market. 

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

This destroys the credit of the original owner who can then sue the subto buyer.Another issue is if the subto seller claims they were taken advantage of by the subto buyer at a vulnerable time (pre-foreclosure) and an attorney or regulator raises the question of equity skimming.

Just starting out and testing waters for BRRR in Chicagoland area.Any advice or suggestions regarding this?

Maybe also consider if they are "good people" that work in the community and just want a safe place to raise their family. 

In hindsight I probably should have gotten an additional HVAC-specific inspection and tested the measurements for the actual washer/dryer space.