i like the idea of just dumping some asphalt or a slab on it and leasing it out to food trucks.... you may find a guy who does a near by office park every day for the lunch crowd and than he can shoot over to your location at 230 and catch the after school crowd...Or you could just buy a food truck and than find a local underpaid short order chef possibly one with a spouse who happens to be looking for work and give them the food truck for 50% of the business you may end up spending less than developing it properly but also making more money if they have really good food and the high school kids keep coming back after they graduate with the new flow of students its a possible gold mine if you had the right menu.... 

I think if you are diligent about getting good deals and good properties and properly screening your tenants, it can be a great way to invest!

Just make sure you properly qualify your tenants and you'll avoid a lot of problems.

Hi Jim,Can you share with me how to properly lease a mobile home in Indiana.  

I would make sure proper insurance would cover the home but in order to protect ourselves further wouldn't creating an LLC for the property be the correct thing to do?

But I'm definitely not going to rush into this ;)@Wayne Brooks I agree that I can't expect for existing owners to wait for months of what-if's from the county building/zoning/permitting department to fully approve my project before completing the lot purchase, but I'll definitely need 15-30 days just to get a proper site assessment to determine build feasibility and basic initial response from whomever I can speak to in person at the county regarding my design intentions.  

In reverse order:3 - Clouds on title - Moot issue for a properly recorded instrument since the issue will have superior lien status.  

A good thing to do is write down your goals a work backwards to see where you need to start.Yes you will have MLS access once you get your license and that is a huge benefit if you use it properly.

At this time I feel a proper first investment would be a buy and hold multi-family which would also serve as my primary residence.

What is the proper spelling for multi-family?