The loss may potentially be disallowed.Best of luck

If you see at least a few zoned in the designations you mentioned above, that's potentially a good sign that you can get support from the local Alderman's office, and approval by the ZBA (zoning board of appeals), to rezone.

I’m really interested in learning more about your experience.I’m curious about the potential downsides and challenges you’ve encountered with this system, especially when it comes to picking neighborhoods.

Look, we’d all like to search the internet, find a deal for sale, analyze the property as having a great cash flow at current interest rates, with lots of upside potential in a gentrifying market.  

Also@Jed Butikofer as@Christian Chartier said, this area has great potential for investment.

Negotiating Price: What’s a reasonable offer given the current income and potential for more?

I've never heard money/profit described as cute, so it's not important.The most important thing you mentioned, was the rent potential and ARV. 

My sales and acquisitions in a slow year yield roughly $350,000, with potential earnings exceeding $500,000 in taxable income.

But by coming together with others, one can get in the game and put their money to work in these bigger, potentially greater return deals without having to do it solo.

On a recent episode of the podcast, I remember hearing one of the hosts discussing this town as a good place to invest but have not been able to find the show notes. I believe it was either Tony or Henry Washington. A...