You will find that it will cost around $1800 to do the required asbestos test, secure permits and do the tear down. standard 2 car garages with pad run around $14,000, plus or minus.

I am seriously looking into real estate as a method to build a legacy and long term income for myself as well as my two sisters. 

We have run the numbers and expect we could get about $45 per space and would squeeze about 250 *uncovered* spaces on this land.This would require grading, putting down road base, security lighting, cameras, an 8 ft perimeter fence with gate (not automatic). 

My question is what should I do 1st: Secure preapprovals through various Hard Money Lenders (that way I know what how much I'd be able to work with)Place offers Thanks BP

as I am analyzing houses to buy in cash, fix up and then rent out to use the brrrr method I get the first part of the numbers ran to find the roi is about 10%.

There are two methods of accounting for this. 

I marketed the unit and screened/accepted new tenants, accepted holding deposit in secured funds.

I would obviously like to get my tenants secured and locked up in writing as soon as possible but issue is I don't have formal land use permits as of yet nor have I started the process - all I know is that QSR/coffee shop/drive thrus are allowed according to the zoning code.

You would have to pay down $33,362 to do that, but you could just pay it down over time or just make a mental note of what point you need to refinance once it gets to that level.Just an idea, it may take more time to get positioned for this method, but it will be the best of both worlds... 

Joe Marshall There is a reason you keep hearing about BRRRR is because it is a proven excellent method of investing and building wealth.