I've been thinking about this - it seems to me that even if it was more cost effective, I may not want to live in a construction zone for a few months.

They make great rental properties and are in the go-zone region, so depending on your tax bracket, this may put you in a unique position.

A roof over their head is the minimum that people expect from a house, it being dimensional instead of 3 tab doesn't bring a higher price.In our part of the country "energy efficient" windows have about a 25 year payback in energy savings-so do it for your own "livability" factor but not for money.Landscaping-like exterior, adds a lot of curb appeal, one of the reasons we were able to get our house below market-"barn red" paint and 20 years of randomly placed and randomly trimmed shrubs turned many buyers off.

hello guys,my family owns a 20,000 sq ft land (where 3800 is being used for two old retail stores = convenience store + lawnmower shop)...i heard that we can use another 3200 sq ft (6000 sq ft MAXIMUM because 60% of the land needs to be used for parking) since we are NOT in downtown but are in a residential area....we are a CPD zone...something like commercial professional...so we can build commercial, office, or retail...but we do stay right next to a residential zone with SMALL houses..and some apartments near the area....70% caucasian city with median income 70,000 income.... i have 2 questions1) my 1st question is.....is it TOO RISKY to get rid of the two retail stores (because they're so old and ugly looking) and build a 2-story commercial 4 unit property to lease out to?

Is the existing building zoned as commercial property?

Understand the zoning and if you can replace the building.

Then if the seller tries to sell it out from under you, a red flag will come up when they do a title search.Your option money BUYS you that option period.

The suggestion to go buy an apartment complex is more of a red herring than helpful.In the same way that you made assumptions or were misinformed you will have credit lenders who do not know what they are really doing.

I do not buy in war zones at all.When I started out about 5 years ago, I bought 20+ homes my first year, and another 15 - 20 my second year.

In a war zone.