A good example of this might show high return for a house in Detroit that is 100 years old, next to a GM plant, vs lower return for a 10 year old house next to the Tesla plant in Taylor, TX.   

@Dennis GallagherAs for the 50% Rule (where your expenses equal about 50% of your revenue) - I might argue that the flaw in the theory is you will walk away from many great wealth building opportunities just because it doesn’t meet the formula.

The power plant near there helps quite a bit.

What I am trying to say is be very very careful in the city and speak to attorneys ahead of time in regards to the process, cost and how long it will take. 

Should I go ahead and develop the land entirely and risk losing that money? 

I never really know ahead of time which lender might be open to that before putting the full credit package in front of them, and many of them 'in theory' offer it, it's just a matter of exposing the potential transaction to enough credit unions and banks that a few "swipe left," a few "swipe right," and looking at the terms offered by those that swiped right.

My brain hurts but my blood is pumping due to excitement because of the potential that lies ahead of me.

Knocking off $4k for that additional bathroom let's say it's $170k ARV, looking at this for a flip and using the 75% formula and a $120k buy price that only leaves $7500 for a reno budget - I'm no expert but I'm pretty sure it'll take more than that! 

This means looking for a lip stick project that can be completed and resold in 6 months or lessThe formula in a perfect worldFix and Flip a home- Make $25K to $50K (Yes you'll pay short term capital gain tax); Repeat the process 3 times; Now you'll have an additional $75K to $150K added to your $80K of savings.

. :) Full steam ahead!