Things that I have already considered are PROS• Compare to City of Portland, City of Forest Grove is much developer friendly in term of building new apartment• There will be less hidden physical issues compare to buying an existing property. • No existing tenant issue you need to deal with up front • You create an opportunity yourself VS praying for the right deal to show up every nite• Higher rentCONS• Zero income during the construction which would be about 9 months and another 3 - 6 months to fill the vacancy• I need to pay out of pocket to cover the interest during the development• Anything could happen during the construction phase...find an oil well 6 ft under during excavation• I have enough knowledge to operate an apartment business but never build an apartment before Let me know if I missed anything.

I'd encourage you to attend the local meet ups, tell people what you're looking for in terms of a deal and make connections with the wholesalers who can find them for you.Best of luck!

In terms of the learning material, it is easier to comprehend than a couple other programs I "trialed".

Can someone please tell me if there is anything I need to be concerned with in terms of liens or encumbrances on the property?

@Josh Miller In terms of working with siblings, I think so you all get along and feel even stevens I would recommend just selling it, not worth severing or straining relationships. 

You still need to make sure you cover all bases in terms of abandonment. 

The list from Brandon Turner for the most common items include; Roof, Water Heater, Appliances, Driveway, HVAC, Flooring, Plumbing, Windows, Paint, Cabinets/Counters, Structure, and Landscaping.Would anyone in my area care on sharing some of their typical numbers in regards to these items(and any I may have overlooked) in terms of cost and life expectancy or any other tips?

To put it honestly, I'm picky about the place I live in terms of location and living in a decently nice place - doesn't have to be luxury but not run down.

@Christopher Silich yes, I just look for stronger returns in terms of the rent to price ratio.

I apologize, I have no value to add in terms of the Illinois market.