If you already have a preliminary site layout showing the size and quantity of buildings you can put on the lot, you should be able to take that work on some budget construction costs and from there work your possible rents into the equation to see if what you have drawn makes sense cost wise, or if there is a more efficient way to lay the site out and reduce costs. 

Average wage rate is $2.50 per hour USD. 

I would for sure checkout the zip codes 45439 and 45409 based on my preliminary look if you want to be in the heart of the city but don't discount the suburbs especially if you are looking to invest in SFH. 

From some preliminary research I don't believe it will be possible to find a cash flow positive property in this area at this time! 

This I would wager is already completed.

ok thank you Ethan, it's all preliminary at this point but it's a step in the right direction.  

In that case, the GAL simply reports to the court that is has reviewed the title work and done some preliminary research and agrees there are no unknowns. 

If so, I do my preliminary due diligence. 

How does that get around FNMA guidelines: "The preliminary title search or report must confirm that there are no existing liens on the subject property." 

From some preliminary research, it looks like the avg appreciation rate has been around 2.5-2.8% annually, is that about right in your experience?