New construction on a Multi Family lot (Cleveland, Ohio)

[Eduardo Salem]

Hi, I'm looking at a property in Cleveland, it's a home that is in serious distress (the 1900s) and probably won't be able to fix it, it is in a multifamily lot. it's a property that belonged to a relative. And I'm buying so cheaply that won't want this opportunity to pass. I'm a handyman for trade and have some experience in construction, have built three 600 + sqft apartments, in the Chapel hill, NC area. This property faces two streets, I.'m looking at building two stories apartments. and the plan will consist of having two buildings one on each street, I Have checked the rent in the area and it ranges from 700 to 1,200 confidence high, being a new construction might help keep on the high side. 

Been from Mexico and now living in the Chapel Hill area, this plan looks good to me but need feedback from y'all experience guys. 

Worried about: city permits, demo, Asbestos, lead paint,  etc.

[Steven Foster Wilson]

Quote from @Eduardo Salem:

Hi, I'm looking at a property in Cleveland, it's a home that is in serious distress (the 1900s) and probably won't be able to fix it, it is in a multifamily lot. it's a property that belonged to a relative. And I'm buying so cheaply that won't want this opportunity to pass. I'm a handyman for trade and have some experience in construction, have built three 600 + sqft apartments, in the Chapel hill, NC area. This property faces two streets, I.'m looking at building two stories apartments. and the plan will consist of having two buildings one on each street, I Have checked the rent in the area and it ranges from 700 to 1,200 confidence high, being a new construction might help keep on the high side. 

Been from Mexico and now living in the Chapel Hill area, this plan looks good to me but need feedback from y'all experience guys. 

Worried about: city permits, demo, Asbestos, lead paint,  etc.

 Hey Eduardo, welcome to BiggerPockets! You would have to do some serious research on this. Find out what type of neighborhood it is on, you'd never want to be in an area where you'll have a hard time finding PMs and Contractors to do the work for you. You'd have to remember that the cheapest option is not always the best. I personally have multiple units in Cleveland giving me steady returns, if you need help finding a good neighborhood to start on, let's connect and discuss how I can help you out.