I don't think there's enough potential up-side to take that kind of gamble.

@Howard L WeinstockAs you alluded to yourself, all this is a gamble on the future of SS system and on your own longevity.

It's a gamble in some ways, as I don't know if I'd be able to build what I want due to zoning.prop #2- crappy neighborhood. 1/4 acre, BUT-has a single family house, small garage, plus warehouse space that's ~2500 sq ft. zoned C. cheap. house is also a total rehab. closer to "move in ready", but honestly, the crime in the neighborhood is to the level that I don't think I'd bring my kid there now.

(not counting the renovation) I think it's tough to find a deal like this in Chicago on the North Side, where you can sleep peacefully at night and not worry about someone breaking in, or a drunk and disorderly, including being located in a  highly rated school district...I understand appreciation, and gambling on neighborhood gentrification isn't a primary concern of mine, this is a risk-free, safe return play.

I have off shore investors … the only issue I had was my bank wanted to check the patriot act box.when I was getting multi million dollar wires into my accounts.. they wanted to make sure it was clean money.to that end my investors came to the us and we had a meeting with my bankers.. going direct to your attorneys trust account could work.. but the funds I brought in went into my account. 

Banking on appreciation is like gambling.  

Having 650k cash and not knowing anything about the market is a complete gamble, not an investment strategy.

The only gamble is if this tenant is a fluke and the space is in a location or a configuration that a replacement tenant would be difficult.

Yesterday it came out that they're now possibly proposing the site for a future casino, if the Georgia legislature approves 3 casino/gambling sites for Georgia at the next session.

But if you're going to use all cash and therefore gamble large sums of money at least promise me you won't try to juggle family, a flip, and a full time job.