And, yes, I've paid that on properties I ended up not buying.

I have a duplex that I owner occupy here that works great, however finding a new deal that makes sense is difficult in Madison.I grew up in the Janesville area but really am not familiar with it anymore in regards to the neighborhoods.

Just finished up a project in Cincinnati. 

– Is it simply an apartment with a studio, or is it a designation that requires a formal process, such as registering as an artist?

I'm comfortable with putting together estimates for the rehab, at least for the up-front financial analysis prior to getting real bids from contractors.What I'm less equipped to do is project the lease up story based on supply, demand, and other factors relevant to the area.

You can probably get a construction loan to build on it, but just to buy without an immediate building plan on just to speculate that land prices will go up, unlikely, as there's no income stream. 

I grew up in the area and know it well.

You messed up.

I've been approve by the bank and they are willing to loan 80% of the money, but I need to come up with the 20%.

I did a broker open yesterday, and had a decent amount of people show up.