Out of state Investors who have appetite for the NY area market and surrounding should reach out. 

Thats to give you some idea of where things line up for where you are at compared to where the market is.

In other words, the expense saving was rather certain but our chances of recovery on the PG seemed slim.We completed the deed in lieu over the summer and began marketing the properties immediately.

Hi Lawrence, Here's my short advice check Due Diligence, Understand Owner Financing Terms, Seek Professional Guidance, Market Research, Financial Analysis, Risk Management, Long-Term Vision.

If so, how was the lot with the house on it impacted in terms of market value? 

In this industry you have to always be learning.

If I'm you I would focus on getting a long-term rental property and learn the market that you are investing in.

Cleveland is one of the most popular markets on this forum.

Was curious to know, what websites you all use to analyze real estate market trends and themes within specific submarkets.

But currently my goal is only to continue to buy maybe 1-2 off market holding/investment properties a year, so I generally didn't use these services enough to continue the subscription for long.