Do I draft the contract price for higher than the actual build price that would include our estimated profit (sell price) or would a separate agreement between the lot owner be sufficient enough that outlines the deal since we don't know the actual sell price until it goes to market?

Then what I would likely do is use self leveling concrete to make the surface level and flat.

So it won’t matter if you forgot things like management fees (or the value and costs of your mistakes if you plan to self manage.)

Yeah, insurance is likely more than sufficient for most investors.

I plan to self finance and do all needed repairs myself ………..

However, I’m wondering if I need to engage an Attorney a borrower has missed a payment and it’s time to send a Notice of Default.Must the Notice of Default (NoD) be a letter sent certified mail or would an email sent to the borrower notifying them of non-payment be considered sufficient as a Notice of Default.

Assuming you no longer work at the company sponsoring your 401(k) you could look to move it into a self-directed account. 

Once you're all moved out & settled in your new primary, you could always explore DSCR rental loan options to take capital out of the rental property if seen fit-- which would also remove the current loan from self encumbrance & free up your DTI.It's never a bad idea to hold onto assets in an appreciating market!

I also support the point of thinking at least 10 years ahead and only buy properties your future self will be happy.

HI Stephen,You can always open HELOC or line of credit from your primary house or non primary house, assuming you have sufficient equity and income to qualify.