Thanks for the info Jay.
That being said you don't really have the big picture though. My fault.
The property is already permitted and approved for a 55+.
Plus all underground utilities, drainage, basecoat pavement, septic and site work is done! No need to put in $50-100k. Its already done. In this case the contract IS all I have to bring to the party since building could literally start tomorrow. This is how I know its a good deal, The numbers work out and the value is there for sure in the area to be developed. The houses have been selling quickly in a hot 55+ market for that area in another development close by! Not to mention the seller wants to retire and is motivated to sell.
That's why I had asked about partnering with a big investor like @Sean Terry . Or others for that matter. I need the connections or contacts of people interested in partnering or all out buying.
There is nothing left to do but build. I got it locked in at a good price and you are right, I have to target more developers in which I am still building that list up. My other buyers list is a smaller list of wholesalers and flippers for single and multi fam homes.
Thanks for your insight @Jay Hinrichs. Always good to get other opinions and ideas!