I'm assuming the higher price tag is due to the development in the nearby area.

I have began the process of reaching out to other nearby land/ business owners to find parking.

Take your time with it, ETS to where you want to go based on quality of life, nearby schools (GI BILL), opportunities in the ARNG, and other personal reasons.  

Hi Roger, I'm new to the BP forums as well but have been investing for 11 years and have a corporate background in non-profit and community development corporations (CDCs), so I thought I'd take a shot at your question.I would encourage you do everything you can to get your credit score up while stockpiling cash (unless you need to use that cash to pay off old debts).

This means you can't spend all of your money on purchasing the land, because you'll be left holding it vacant for a few years until you save up that 20-25% cash to secure the construction loan.7) See if the city will let you build without an onsite parking requirement, this will only happen if there's excess street parking (you may be charged by the city for using street parking on a permanent basis) or see if there's a pay for or public parking lot nearby in which you can secure annual parking, If this is the case, see if Zoning will allow you to build Up, instead of making it a Duplex, make it a small Four unit by stacking your duplex footprint and reducing the cost to build this project.8) Maybe look for a GC that has done many Duplexes and may have a set of plans he can use on your project, this way he can give you a better idea for the total Soft and Hard cost before you purchase the lot.

Tornadoes in the area caused an increase in new home production, as well as new apartments going in nearby...

I pulled the rentometer comps for one-bedroom and two-bedroom rents nearby and the median came back at around $950 and $1250, respectively, but they are mostly in White Bear Lake.

For local applicants that meet my income requirements , I do criminal & civil court record searches in nearby cities/counties and in all cities/counties listed on the application.

After digging into some other properties nearby, one has a more profitable unit mix with some 3BR units and is priced similarly, but it is already rehabbed. 

Most MLS systems have policies and members agree to accurately report sales & listings, as the data is used by appraisers and other agents to price or evaluate nearby properties.