It emerged from Olson initially eyeing the 26-acre tract off Dr.

Find a lot around $100k and build a simple tract-style home on it.

I can’t tell you how many sellers thought they had a unique property that couldn’t be duplicated and would fetch a premium price in the market when all they had was another tract house. 

And was that moderate income relative to her census tract, her county, or the state?

Hopefully the tract is not majority older people or people with small children both go to bed early, don't like extra cars and strangers.

You are most likely going to be in the Q3/Q4 and C3/C4 rangeQ2 - Custom designed, could also be high-quality tract, high-quality details/ornamentation/interior refinements, high-quality workmanship/materials/finishesQ3 - generally high quality, individual or designer plans, above standard tracts or individual site, significant exterior.

Maybe we get lucky and more California farms become housing tracts and solve the problem. 

Scott back into worse case scenario .. and if things go as easy and as fast you probably make significant upside.In ORegon back in the 90s I could buy a 20 acre tract get it approved for 100 homes in 90 days and be building it in 150.. now as I state this takes 18 months at minimum and 150k up front in risk capital.

If anything, it will keep me on tract as far as making sure I buy assets instead of liabilities!

(Note 1) I couldn't find a match to indexed descriptions, which most likely means the parcel was subdivided (e.g. description says 29.035 ACRES and becomes 1A lots) or combined (e.g. 2 TRACTS becomes 10.65 ACRES)