In 2023, we sold it for $245,000, achieving a strong return and leveraging the experience to fuel future projects.

They should be proactively communicating with you as to why they can't find a tenant and discussing options with you.PM's do get busy, so before firing them, try to have an open conversation to find out why it took so long and what can be done to rent faster in the future.

This way I get paid upfront for my work 1-2k plus I know I have another payday at some point in the future if the deal closes.The costs to fully develop a property and sell for near retail usually involves the costs below and takes 2-6 months or more in some cases, but the profits can be huge if you're working in markets where land costs are high:Title 200-400Legal 500-2000 depending on zoning issuesIf wetlands are present AND its a buffer zone project: 2000-5000Perc & septic design if needed 1500-3000Treescaping & cleanup for retail sale 500-1500Selling costs of 6%I tend to stay clear of properties that need more than the above expense items.  

I live and invest in Milwaukee since 2007, so probably a little bias here, but we are set up very well for future growth. 

You are a high w2 earner, The house is worth 110k today, you are buying from your grandma for 60k in exchange for free rent for life, upside ARV of 200k.The costs of owning the house will help provide tax relief on your high w2 earnings, you are buying a great chunk of equity that will pay off in the future, and you and your grandma are doing each other solids. 

If I get motivated enough in the near future I may do more research and experimentation with it.  

We plug in $10,000 as the present value, 0 as the future value (at the end of the 36 months all the money you’re going to get has been returned so there is no longer any value to the investment), 320 as the monthly payment, and 36 as the number of payment.  

Adding a response here in case anyone stumbles across this thread in the future.

Anybody else concerned about the future of commercial real estate with the coming robotics and AI?

You can use this tool to estimate future property taxes: https://treas-secure.state.mi.us/ptestimator/ptestimator.asp