Cambridge is even worse - there's a 22-plex on the market for $17M ($1.29M per unit) and 3-plexes are $2.22M and duplexes are selling north of $1M.Right now, Boston (all areas) has 51 3-plexes on the market. 

To cover your costs of being an agent, you probably only have to close one deal per year.

Nothing lowers the property value more than environmental cleanup and advertising it is not going to help.Just my 2 cents.

Traditionally, there was a 2 person per bedroom rule. 

Expense are quite low: $2000 year taxes, $600 insurance, $700 street lights, $3000 vacancy/lost rent, $1000 upgrading UTL & gravel/pavement per year = $7,300/year expenses.

Then take next best highest and use tenant and figure out rent per sq ft they could pay.You could possibly sell the land to an end user tenant, sell the land to a developer and make a spread, ground lease the land, or do a NN or NNN lease and construct the building.You need to analyze the tax implications of selling outright and paying higher short term gains capital tax versus developing and then converting to a new value created loan of 65 to 75% LTV.

Seems out east in the upstate New York, Pennsylvania and Connecticut area there are alot of 4-6 plexs that I can purchase for $50-75k that need $75k worth of work but average apartment rents in the areas are 1k per unit per month when rented.I would like to find an investor that will lend me the $150k upfront so I can purchase and remodel the property and when fully rented get traditional funding for the property. 

Worst case is you dig another truck of dirt out at $1000 per load to dig and backfill. 

I know it's only about 6% ROI at this rental rate, but if trends continue, I should be able to charge upwards of $2k per unit in a couple years. 

If not I can look them up and interview but figured It might be worth while to reach out to everyone and get their 2 cents.