It is interesting you picked Sioux Falls.

When I first started doing lending in Detroit.. this was an issue ... my client a big time flipper rehabber always had retired cops there with a clip board to check in the workers.. it was determined early on that much of the theft came from the exact guys that put the stuff in during the day.. they had the codes they knew what was there they would come in at night and steal it .the day cop and clip board put that to bed.So I agree with @Bryan Bannach  hire a retired policemen have him there during construction hours its the cost of owing property in the hood.. nothing unique about this.or just sell the property and buy something else.. but I think your looking to assemble so I know you probably don't want to sell.so just as stated hire security and I really like the idea of the @Patrick Liska  Cinder block fence I would for sure do that.. then put broken bottles in the concrete on top..

You can find a ton of methodologies for determining each but if you're drowning in a haze of acronyms then I'd start with a deal analyzer. 

There are plenty of people who will buy your property and pay off the taxes if they are picking it up at discount. 

Materials are done via phone order after we pick them out at HD for the week Monday morning or we put together a materials list and bill you8.

You should determine the monthly cost for property taxes, insurance, repairs/maint, capex & maybe vacancy.

If the metric you use to determine a "good chunk" is a return on equity metric, then a financed property will give you best return on equity in the early years of ownership. 

Determine a minimum list of requirements and stick to it.

It will send the contact information of 3 lenders that we picked and will also notify us via email. 

I've gone through some of the basics and determined that I'd like to start investing into a single-family home to buy & hold.