Note business model

[Russ Goodman]

I would appreciate some collective thoughts concerning my proposed business model.  At times it help me to get clarification if I feel I'm getting too close to the trees not to see the forest properly so to speak.  So I am open to some thoughts and guidance.

I am considering an overall strategy for real estate investing as follows:  I live in Florida and there are vacant lots available to be purchased at tax sale.   My approach would be to acquire the lots, clear title and as my exit strategy:

1. sell them outright;

2. take back paper;

3. develop the lot; or

4. accumulate a few and exchange them or use them as a down for another parcel. 

I like paper, but with the recent dodd-frank and other issues I am concerned.  I know i am papering lots but I'm not sure if it exempt.  Am I looking to take on too much with the possible development?  I would do the development as a turnkey operation.  I may  know which side of the hammer to use , but I know i still bend a lot of nails in the process.

You're thoughts and guidance would be most appreciated.