Gino, overall I think Lakewood still works pretty well for a house hack in the low interest rate environment that we’re in.  

People have different opinions about buying in such environments, but I'm more curious as to how to even find out what you're dealing with.

Development is a big fish arena but possible especially if you have the dirt already.

That's what makes the turnkey environment great for people in a similar situation as you that want a buy and hold property.If you have or can acquire the funds to do the rehab then you could buy one or more properties that need work and still go slightly above the funds from the 1031 in the purchase price.

I had a Pelican fishing kayak float in last year.

This was only an inconvenience in a high interest rate environment.

The more nets you cast the more likely you are to get fish.

It is a great investment environment.

Depending on the location (i.e. prevailing winds) and roof style, you may need to have the roof shovelled in high snow years ... or in those wild winters where you received rain after 5-6' of snow are down.When rehabbing a building in an environment with *real* and prolonged winter, it pays to focus on air sealing and increasing the insulation of the building envelope.  

My partner found it by overhearing a guy that he knew at a fish store that he frequented that he was going through a divorce and needed to sell his house so that he and his wife could go their separate ways.