If your units do not have shut off valves but they do have hot water tanks then hot water capture, cold water allocation submetering is a viable option. 4.

A few hundred for a holding tank.  

Yeah the Fed is going to raise rates a few basis points (good idea, really), but elections  are near and an excessive increase would tank the market, so they know and will not allow that to happen.If you find good deals, just make sure there's cash awaiting you at the end and go for it.

The city is full of hard working people, sharks that are out there to make some cash.

Many people investing in MN are looking for COC return and cash flow but a good COC could be a big loser if it is over leveraged and the market tanks. 

Should I use it for the down payment or put it in the tank in hopes to gind more ???

You have raw land,semi developed,and developed.Raw land is where trees and everything is untouched.Semi developed is usually where they might have torn down the house and cleared some trees.Developed is where it is cleared and graded,utilities and entrance is in place and they just haven't gone vertical with any structure yet.The best use of a parcel of land might not be it's current zoning use.When you want to build on the land will factor into it as well.Example a developer might have gotten zoning and approval for a particular use.Now too many of those properties have saturated the market or the demand is no longer there.Now you have to figure out in the current economy what would work there and what the ultimate rents would be to determine a price for the land.How much dirt you have to move around to get a site ready for vertical improvements is key as well.You can have 2 sets of the same size parcel.One is listed at 300,000 and acre and the other at 175,000 an acre.Looking at face value you would think 175,000 is cheaper.You learn however that with the topography of the land to clear the site ( 3 acres ) will cost 200,000 an acre.The other parcel at 300,000 will cost only 50,000 an acre as it is relatively flat already with little to no brush to take down.So 300,000 times 3 is 900k plus 150k for clearing land is 1,050,000 to get site ready.Land at 175k is 525k plus 600k in clearing costs is 1,125,000 plus the site will take longer to get ready to develop.Land prices are down in mnay areas as well because used to a developer could form an LLC and pay any price and it the project tanked they could walk away non-recourse.Now lenders want heavy down payments,recourse,and cross collateral of the developers existing trophy properties.So now developers are real picky on what price they will pay for a property.I can go much more in depth than this about land development but I don't want to write a book here.If you have a more specific question just ask.I only provided basic info here and does not include anywhere near all development costs.

If you go too high, your credit score will tank badly. 

Currently looking at around $120,000 in rehab:Floors, roof, kitchen gut, bathroom gut, add bathroom, paint in/out, new electrical throughout, new furnace, new water tank, few other small items.

I would look at the components that may need rehab: Roof, furnace, hot water tank, refinish floors, kitchen, baths, landscaping, new carpet, windows, paint, cleanup, dumpsters, etc. etc.If the furnace, roof, and windows are in good shape, your estimate may be ok.