No, but I once had a someone break into one of my properties by pulling the power meter in order to bypass a security system.

Oh right, the property is in the new west suburbs of Chicago a block away from the "downtown" area, a few blocks from a good hospital (Grant Cardone anyone?)

Pitch your development to potential customers and just make sure the lease language has a poison pill that will let you out if the project doe snot secure financing. 

Sounds like you did your due diligence and secured a deal you're happy with.

Hi Tiana --  My LLC has a couple of business loans secured by rental property. 

Granted, there will be exceptions where a person could hit the jackpot with the 2% rule (there was another thread about people and their success with 2%+ properties).. but the majority of 2%+ properties seem to be pains.

In terms of improvements on the property, I had a wrought iron gate/fence installed, security cameras, and glass shower doors.

This is important because realtors keep their job security by forbidding access to the MLS. 

This could very well differ from state to state, and granted, my situation wasn't due to late or missing rent, but to me, even if they still pay, so long they've broken the contract in one way shape or form, you have grounds for eviction.

Here is a breakdown of the items they saw that needs attention.Needs minor trash removal; needs mownSupport post trim needs replaced; badly deteriorated; upper trim needs scraped and paintedBroken panes on side back needs replacedReplace fixture on front porch; flood lights on backNeeds some minor trash removed and minor work done220 wiring needs secured;not up to code, needs to be placed inside conduit.Install new furnace filterClean and paint register ventsInstall apprx. 4 door stopsFull interior rent ready cleaning required after all work completeReplace as needed to match all light bulbsSteam clean all carpet; sweep and mop vinylReplace missing storm door, paint interior doorPaint all wallsPaint door; interior shows signs of previous leak, but doesn’t appear to be a current problem; paint interiorSeal gaps in side window; paint all; seals appear damaged on double pane windows; may not be an issueReplace screensInstall two smoke detectorsInstall two blindsTouch up, as neededPaint all window sealsSeals appear bad; paintInstall screenVery old and drawers fall out; should be replaced with new; secure handles, if keptHas several large chips; functional sink otherwiseInstall two strainers Install fire extinguisherPaint side exit doorEstimated cost is $4,000.