Fortunately, none of them were mine.

I found out threw two friends of mine that there is two businesses that have asked to lease it but the current owner wont lease. they asked me if i would consider buying it and leasing it back to them.

Even one as silly looking as mine.

Since 70% of people are retirerees, I wasn't too concerned about jobs in the area, however here's what is going on according to city's chamber of commerce:major public employers are school, library, post office, county government; major private employers are Safeway, a few copper mines, real estate.

@Kenneth Huddleston if I only had this goldmine of BP and the desire to build a real estate portfolio when I was 16 I'd be in a different league right now.

I was referred to mine by another investor.

The only place I would see that being a problem would be with the bank as mine usually asks to see leases.

I agree with the last 3 posts above mine.

So likely payment would happen just before start of construction.I have recruited a builder friend of mine to partner with, but Seattle is not his primary building area and SFH are more his specialty but he has done multiple townhome projects and a few apartments.I have found two private lenders willing to cover 100% costs of the following two options:Build 12000 square feet worth of town homes (seattle uses this floor to area ratio to determine building size , for townhomes the conversion is 1.2 build-able feet per lot square foot.

You can deplete the asset, do away with it for example, a rock quarry or mining minerals out of the land.