Apply for a dimensional variance on the vacant lot to allow a smaller lot and/or setback so it can be built upon.Your best first steps are to sketch a plan, possibly with an engineer's help, then contact the zoning department to discuss your idea with them to get informal feedback on your liklihood of success before you spend a lot of money.

But I get it in the lower value assets of the mid west and rust belt cities wholesalers dominate because they spend 100s of thousands in marketing for those type of assets..

Based on the questions you are asking I think you need to spend more time listening to podcasts like Bigger Pockets and Bigger Pockets Rookie.

However, if you’re not ready to jump in yet, you could spend the next couple of years building your savings and learning more about real estate to feel more confident when the time comes.

I closed for both sides and had a chase them round for final signatures.Also might I add the property could be falling down, you basically have to send your staff out to take pictures and videos to send to them to get them to even budge on any price.These homes they have have been sitting a long long time and most cases they are on the city’s list of zombie homes and ready to be demolished, you won’t find that out with no title search and survey, you find that out the day your workers show up to work ready to get this thing back to livable to be met with more money spending ventures.Bottom line.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

I’m unable to invest in areas familiar to me as I’m priced out of suburban NJ where I was born and raised.I’m looking to spend $150-$180K on a condo and will need to research viable areas.

Rather than just spending the money on a rate buy down. 

Sometimes people get paid and if they can pay their rent immediately they will but if they can't they may be tempted to spend it elsewhere. 

I will figure out what to do with it when I get to $20M, but it will probably just be finding new ways to improve built environment along with travelling more and spending more quality time with fam.