My advice is to stay away from commercial property until you understand how it's valued, and can perform a proper due diligence and valuation.    

Not sure what proper course would be...Thanks in advance for any good insight guys !!!

Do this at 417 E Fayette st 1st floor in the permit dept.

Learning to do a proper analysis before hand might have kept you from offering in the first place.

If you have any plans for the second lot, you may want to do your due diligence to make sure things are zoned properly for your plan.

Great way to network and learn for F-R-E-E :)If you need any help finding a deal in the area, or any questions I'd be happy to help if I can.  

@Stephen E.

It has the potential to work out really well for you but tax lien investing is a p-a-t-i-e-n-c-e test.  

It seems to me that the key to being a good RE investor who can grow their business essentially means they know how to (a) acquire leverage and (b) manage it properly.

I've noticed that, in reality, while demo expenses are a big part of it, oftentimes people severely underestimate the other costs involved, like getting everything drafted/designed properly and getting every part of the construction permitted by the City.My overall point was that demo costs are more predictable and foreseeable, whereas people that consider demo and rebuilds oftentimes underestimate the other costs involved, which tend to add up to so much upfront cost that demo/rebuild projects end up being a not-so-great investment decision after you crunch all those numbers.