Okay, I found a property in my town, great location, 1900 sq feet and I think it will rent easy for 1k. 

No point living on the other side of town if you have to commute 30-40min every day.

I guess that makes sense, since I would depreciate a house by 27.5 years when I put it into service, not based on how much life a house has left if it was built say, 100 years ago for example. 

The company has not had enough time to build any capital, as I am out of town for the rest of the year.

Chicago and all the surrounding town ships almost always uses zoning to make these areas less dense. 

It was built in 1997 and everything is original and including the strawberry wallpaper, different oddly colored rooms, cheap appliances and worn out wood floors. 

I would imagine 2-3 units could be built on the property depending on the specs and I would like to be able to start the build in the next year to two years. 

@Adam Horvath The wall outlets with the built in USB are sweet.

Hello Bigger Pockets,I just completed construction on a 2-flat which was built on an empty lot. 

The property was built in 1904 so please also check my numbers for repairs.