My landlord was also making noises like he wanted to raise the rent; I had already started taking on all the repairs myself just to keep him from doing so, but I knew it wasn't a long-term solution.I lucked out and sold a piece of land with no utilities.

Bad tenants are much worse than vacant properties.I wrote a piece a while back with some other tips you might find helpful too: https://www.biggerpockets.com/blog/2015-05-25-5-dominate-pro...

I am all ears. 

This would be my first time investing into real estate hence I do lack landlord experience.Im starting right from scratch, so im all ears. 

My biggest piece of advice is to learn from the experiences of others.

If I feel there is any "liar data" in there I throw out that piece. 

Instead of taking bits and pieces of everyone's information which will vary greatly by municipality, consult with a local contractor who specializes in basement conversions.

Thanks for the reply, the undue enrichment piece is an interesting one.

It is proven high end and has some of the best views - it's truly a rare opportunity as developable land disappears quicklyIt's 8 prime lots (around $1m a piece) and half are multi family (2 duplex and 2 triplex). 

When you buy a lot it is like buying a piece of the pie of someone's development.