I also don't invest in the city for multiple reasons (the ED department being one of them, which would probably come into play if you are looking to do something other than buy and resell some land in the OC)I know people who have done very well on Murray Hill and the Gordon square area.

About me:Towards the end of a long rewarding career on the Cuyahoga Falls Fire Department and as a Rescue Squad Officer on DHS/FEMA Ohio Task Force One, I began investing in real estate, both from a rehab/turn-over and a buy-and-hold approach.

@David Huynh talk to the residence life or housing department at SCSU (if that's the college you're talking about, of course).Ask them if they would be interested in using your apartment as student housing, or if you could list your apartment with them as available housing.  

banks will report any cash transactions over 10k.

As licensed agents, we can make money doing short sales or brokering transactions at fair market value.  

If nobody at the mortgage company you are using can give you a LE (Loan Estimate) form showing your estimated transaction costs for this purchase based on your intended offer price and today's interest rates, PLEASE get a new mortgage company to work with.

@Grant Boynton  Matt hit the nail on the head.. go sit down with your most experienced civil in that market. they will be able to answer most questions right off the top ... you could also simply walk up to the counter at the planning department and discuss it.. construction financing will be huge stumbling block for someone in your situation.

Jared Kulp you could ask for the REO department and try to find the asset manager.

ADDING ECONOMIC CONDITIONS - ALSO DECELERATINGNote that the home transaction price in right axis has different scale..Fortunately, the leading index for the state is still holding up, and hasn't showed that downward trends that foreshadowed the last decline as early as 2005!!!

I know as far as any real estate transactions if licensed you must legally go through your broker any help with this please and thanks/ would like to do everything right and correct