They don't buy a lot, and even when they or any affordable housing developer buy land, it often can take forever for them to consider the property and then the actual escrow can be long if they are building the capital stack to buy the property. 

Currently getting quotes from contractors to expand and finish the basement in my south philly row house (east passyunk).

While this is in another state, it should translate.I just bought a house in Florida and it has a detached garage that was converted to an efficiency apartment.

With an inherited house, you can definitely make something. 

It was a house that I was presented with the opportunity to purchase.

I've been hearing how you have to put a percentage down. but if a house is 300k and i have to put 5% for EMD, i don't have that kind of money to put down.

The non-buildable tract of 15 acres was being sold to a farmer for crops, not houses and they were not permitted because no building rights were remaining. 

The previous owner is still alive and was residing in the house. 

Most attorneys won't mess with taking a house from you, paying fees, and auctioning it if the bank owns 60 percent.

Purchase price: $200,000 Cash invested: $20,000 Sale price: $377,000 This was the first house I ever purchased.