On a 400k loan thats 20Gs

The project dragged on for over a year, with constant headaches, budget overruns, and stress.

I wanted to know what are some good neighborhoods on the outskirts of town. 

Two - In my due diligence, it looks like the only real option to make this unit legal is a special permit and variance, therefore, causing me to update the whole building with sprinklers, fire alarm, and meeting stretch code (certainly not enough meat on the bone for this route).  

I used Mark's firm a couple of years ago on 4 tax lien foreclosures.

The seller wants 20% down on a seller-financed deal. 

Russel I would not say D that is a far stretch I will give it a c+ and this is a great time to get in on the ground level.

Based on my analysis, a good amount of the multi-family properties for sale within Blue Island would seem to cash-flow, but the sticker price on some of these properties seems too good to be true.

I'm planning on trying to complete 100 hours of material participation... 

A lot of this depends on what type of development you want to get into.