Established high-end neighborhoods like Cherry Creek saw more modest rent growth.

We also establish certain policies to avoid these.

I explained that I would like to see them searching for new housing however if it came down to them needing an extra month we could discuss that as an option in the future, although it wouldnt be establishing a new tenancy.

Also, established PMs I know don't like dealing with new property owners with no managing experience because they are often very unrealistic in their expectations.  

They Seller Finance it with a balloon at 3 years, with the expectation you'll have established residency and be able to get a traditional mortgage. 

Most importantly I’d love to build relationships with more people in the community and establish friendships that can last a lifetime.

Lifting the veil MAY refer to disclosure of ownership interest, piercing the veil refers to disregarding the entity to establish liability; whether in a “real estate” transaction. of any other type of transaction2.

Given the details here I'd say no, you should take any development thoughts off the table because to do that is not something one simply learns over night, there is a lot to it. $209k is very cheap for 40 acres, so that offer could be a person interested for hunting land and nothing I'd get excited over, and I wouldn't assume it means anything other than you could sell it for $209k. 

That is a lot to ask if your client also cares about the location.

It’s a tough market and there’s a lot to learn.