looking for advise on investing in the Ironbound section of Newark, I have read a couple of threads on hear that talk about ironbound as great neighborhood but it's too expensive to invest in.....however looking at the median rents compared to the pricing of the homes and it seems very reasonable especially on 3 or 4 family properties ... would love to hear others opinion on this...

You might want to check out our "Deep Dive" series on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider.

A developed piece of ground or one that is partially developed would be a lot more difficult to sell and would likely be sold at a large loss in terms of what the bank has funded into the project compared to what is netted out of a distressed sale. 

It would take a lender to compare the two for you. 

Even if they accept it, you run the risk of starting off with a bad relationship that will bite you later.Get rid of them and start fresh with new renters.No offense to the BP podcast guest, but building a binder with comparable rentals and then asking your tenants what they're willing to pay is a complete waste of time.

@Erik BarajasGet a few quotes and compare them.

Weston is big money compared to the other nearby city’s like Davie and Pembroke Pines.

I'd recommend you see Huntsville, Madison, and Decatur for yourself - I think you will understand the census data very quickly when you drive through all 3 locations and compare them.   

First of all congrats on your first purchase   Call a couple contractors and obtain their thoughts and estimates to compare repair costs. 

It really depends how the units compare to anything else in your market.