Looks like you have some good options in front of you @Martin Phinney.

Sit back , let him build the house , and when its done , say " Thanks " You should check with a local land attorney and see what your options are 

You do not need a court hearing to move forward.You can read my book to get more details, but you essentially have a couple options. 1.

This attracts poor unqualified tenants because they have no option but to overpay.

That might be an option.

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

.- Over a 10 year period cashflow will increase as rents increase (rents typically rise faster than property taxes, insurance, etc.)- The property should be appreciating, if purchased in a good location, increasing the owner's equity/wealth.- Rents will be paying the mortgage off, increasing the owner's equity/wealth.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

You pay your agent at closing (think of it as an additional closing cost) Depending of the situation and of these options can be used by you and your agent to negotiate with the seller.

Syracuse is definitely experiencing a lot of hype at the moment because of Micron, and we're seeing lots of renovated options on the market in areas that likely won't benefit from the new campus.

It'll be easier to start with a turn-key property, but if you have a good contracting team, a value add will typically offer better returns.