Seller seems to think the vacant pads are worth very little, and of the 1.2M paid, most of that goes towards the income producing pads (with homes on them)...because the "CAP rate could not apply to vacant lots".Does anyone with appraisal experience can shed some light on this?

I posted a separate thread with some hopeful advice coming -- about my first LTR.  

For now, there's nothing wrong with doing your homework but focus more of your time and energy on finding a quality property to purchase.

It was cash-flowing from the start, even with the rent from just one unit.

Racine is entrenched with some lower socio-economic issues. 

With AI companies accounting for 15% of new leases this year, the sector is becoming a driving force in San Francisco's post-pandemic recovery.

There are legal aid groups that can help you with the paperwork.

My concern with FL real estate is that if something doesn't change soon, most property will be uninsurable except through excess lines and there is very limited accountability/oversight as to whether or not these over seas insurance agencies even have the funds for payouts. 

They reached out last storm Helene and we survived with no damage.

Local Economic GrowthJob Market Health: Areas with strong job growth, particularly in tech, healthcare, or other high-demand sectors, attract both short and mid-term renters.