Here we have subdivisions with pipe farms with streets in.Some have 30% houses being occupied.These properties are worthless to me.They sit on maybe 1/4th an acre.Taxes are say 600 a year and HOA is 150 a month.So I would be dropping 2k to 3k a year until the market recovers.If at the height of the market the lot sold for 18k and I buy for 5k.Then if I put 2k to 3k in holding costs each year for 4 years waiting for market to come back I will have 5k plus about another 10k in.Take out resale costs and I am making almost zero on the investment.Now mountain view,ocean,lake view,golf course lots that can be bought cheap is a different story.You need to survey the property and have title checked and insured when buying.The docs have a title or attorney draw up for you.No legal advice.

The different looks to be about 6" on both length and height. (; But no really, not much of a different.

If you are looking for a buy and hold, I would recommend looking more into the suburbs like Euclid, Bedford, Cleveland Heights, Lakewood, Parma Heights, Willowick, Eastlake, Wickliffe, and Mentor. 

what about doing a fix and flip in downtown Indianapolis just outside of Holy Cross and Arsenal Heights area?

You may need special travel permits due to height and length if you move it.    

I feel for you as you had bought at the height of the market.Good Luck.

Outside West Seattle, Burien/Arbor Heights/Normandy Park are all great neighborhoods.  

I am not very familiar with the neighborhoods (usually deal with South Tampa and the heights areas), although after driving it, it seems pretty nice, very quiet (no thru traffic at all), and there are quite a few larger homes.

Deanwood or Capitol Heights style :)

My experience and the statistics show that Cypress Hills has less crime than Bushwick, Crown Heights, Bed Stuy and even Williamsburg.There was one house on the block that was full of squatters when I moved in, but has since been fully renovated put it on the market.I'm very happy with our investment.