Marie, Please keep in mind that when you see people referencing with these funds it's because they are invested in these funds, bought the sales pitch hook, line and sinker and are being told by the operator, "don't worry about the market, we're experienced and conservative so you'll get all your money back and a tidy profit.

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

Another thing to note, these are high-paying jobs being moved to Phoenix. 

I'm assuming I would have to pay it off if I won the house. 

Questions like this often get better and more actionable responses.Also, keep in mind that while this site is an incredible resource, opinions can sometimes come across as blunt.

You don't need to pay anyone to learn.

Wondering about paying through an escrow agent or something similar 

So for her, the fees of 3% at closing and 1.5% per year is a steal vs paying $400,000.

What do you mean you are paying $400 additional dollars more than what you are paying now?

It's amazing how cheap it can get when you're paying physical cash and having your contractor pick it up at the warehouse.