For a contractor that has a track record to tie up the lot and offer as a build to suit  or have a design drawn up that's specific to that lot and then presell it's much easier. 

If you had invested anywhere around Detroit in the last 20 years, you had dead money unless you were in downtown where money recently started being invested; and that play is still up in the air as to whether it will work out or not. 9) Financing - Buying apartments without using debt makes no sense.

What does your property's sale price work out to if you multiply that PPSQ by the # of sq ft of your property, and discount it by a healthy margin of safety?

@Andrew Albritton OOS investing can be scary but if you have the right team in place, Realtor, general contractor, and property manager, it can work out well.

I am an accredited investor and now very focused on fast tracking towards retirement (or at least a non-w-2 life!).

As of now, our magic number is $280 for acceptable cash flow and to keep us on track with our long term goals.

But in order for things to work out and do well, he will need to support you in that quest. 

You could even consider putting this property up as collateral on the next one you acquire, depending what you can work out with the lender.My $0.02 ...

To add to @Greg Dickerson 's point, most banks (if you don't have a track history with them) require 2 years minimum to refinance.

I'm getting off track as usual - sorry.Back to the stairs, you are saying they are not level in the middle or something?