The house now had a more open-concept main floor, a spacious master suite, and updated kitchen and baths... while still retaining plenty of that 1910 charm!

You may be able to retain the management (if they're good) which is a bonus as they will know the property. 

It (Warren) continually gathered more snow (capital), making it move faster and able to attract/retain more and more snow.

@Francis Rusnak, I agree, always retain an attorney for a closing in Illinois.

To retain and attract good tenants, sprucing up the exterior of a property it is a good investment.

These can kill a project and in many cases explain why an infill lot isn't being developed6) Check CC&Rs to ensure that the neighborhood plan doesn't have any restrictions that apply to your project7) Check the Plat to ensure there are not special restrictions listed on it - These can be a gotcha as they aren't in the CC&Rs, but may still be enforceableNow you are ready to design which sets up a new list1) Foundation design - hire an engineer, soils and slope will impact the cost2) Retaining walls if you have a slope3) Water retention or drainage - If the lot is large enough you may need a water management plan on how to handle storm drain flow, check with your municipalityI may have left something out, and I am always learning, but this is my basic list.

Start there with some basic amenities that add value to your property and help attract and retain good tenants plus add to qol.Next I'd look at additional property upgrades.

If you run the completed application you have the right to retain the application fee.

Once project was completed we re-financed and the investor got all his money out and he retained 40% equity.  

You would retain a lien on the property until they paid it off so if the buyer quit paying, you could reposses (and keep the downpayment).