When running numbers, especially on small multis more western markets with direct access to NYC tend to be more favorable from the numbers stand point and many of these towns offer 30 minutes or less taking commuting lines.

That would be a foundation issue to make sure the current foundation is able to hold two more floors on top and also a height issue for the town for the area.

A buddy of mine here in San Diego once helped a first-time investor navigate an 8-unit purchase in Eugene, and over coffee in Old Town, he told me how the local property manager there saved them from a zoning hiccup that could’ve turned ugly.

I used a LOC to build a 12 site RV park in a small town, opened it up and 1.5 mnths later, I'm full occupancy and servicing the debt (some of it at 8.75%) & cash flowing.

Las Cruces is a small college town (home of the New Mexico State University Aggies) with healthy population of federal government workers and military contractors.

Tenant must prove the following:1) they are unemployed2) if unemployed, they must show their unemployment insurance statements and small business protection statements (because a lot of them are getting more money in unemployment and some also get the small business protection paychecks from their employers)3) if so, they must pay 50% in rent each month or should get kicked out within a month; heck 50% of unemployment check should go directly to the landlord or mortgage company so don't let the tenant be the one to decide if they want to pay out or not4) but with the money, they should voluntarily move into a smaller, cheaper part of town instead of staying put (common sense is that when you lose your job, you send out resumes looking for another job while collecting unemployment and also looking to move and downsize to a smaller, cheaper place); you don't stay put and be a squatter5) they must show their bank statements (checking, savings, retirement accounts, etc.); any money they have in there must go towards paying 50% of rent as well6) if they are short on all the above, they must move in with family / relative / brother / sister / parent, etc.7) the only situation when they have a right to be a squatter is when they can prove that they will be homeless if evicted and have no one to turn to and no money in the bank (but whoever gets to this situation is a lousy manager of money and don't know how to live within their means while employed)

As an out of town owner, one benefit of Madison is that we do have a good supply of property management companies to consider. 

There’s a huge and badly needed street project coming over the next few years on the main drag in the near west part of town - W.

I agree with Alecia-I would start with something smaller, find an city/area of town you like. 

They actually failed to pay taxes in 1983 as well according to the follow up article below. 2 years later in 2017 the County reversed the sale voting 7-4 against “these out of town speculators trying to make a big payday” and for the fine people of their district. https://www.sfgate.com/politics/article/SF-supervisors-to-vo...