Past performance is no indication of future results.

In 2023, we sold it for $245,000, achieving a strong return and leveraging the experience to fuel future projects.

How do you factor that unknown future expense into the ROI?  

They should be proactively communicating with you as to why they can't find a tenant and discussing options with you.PM's do get busy, so before firing them, try to have an open conversation to find out why it took so long and what can be done to rent faster in the future.

Looking into the future, after we stabilize our current portfolio of loans we intend to start looking for new opportunities on highly discounted distressed debt which fall out from the pandemic.

This way I get paid upfront for my work 1-2k plus I know I have another payday at some point in the future if the deal closes.The costs to fully develop a property and sell for near retail usually involves the costs below and takes 2-6 months or more in some cases, but the profits can be huge if you're working in markets where land costs are high:Title 200-400Legal 500-2000 depending on zoning issuesIf wetlands are present AND its a buffer zone project: 2000-5000Perc & septic design if needed 1500-3000Treescaping & cleanup for retail sale 500-1500Selling costs of 6%I tend to stay clear of properties that need more than the above expense items.  

I live and invest in Milwaukee since 2007, so probably a little bias here, but we are set up very well for future growth. 

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

Adding a response here in case anyone stumbles across this thread in the future.

Anybody else concerned about the future of commercial real estate with the coming robotics and AI?