If the numbers are close than you are in the ball park.

You as the buyer also have rights under fair lending and you should never be forced to use a builders lender. 90% of the time lenders drop the ball and end up not being able to close on time or their overlays cost the buyer the deal and in some cases earnest money.I would walk away from a deal that forces you to put $50K in earnest and use some generic lender who may not even be able to close the deal.

He immediately can tell me if it’s a property worth pursuing and can give me a ball point estimate of what the rehab may cost and what the scope of work will be.

Since I already own the land and would be interested in building on it, what’s the first step to see if this is even possible?  

Sherman is about 30 minutes north of there and many of the biggest nationwide and local residential developers have bought land and working on master planned communities.   

This significantly lowers the cost per door and improves your return on investment.Scalability: A three-story walk-up design allows you to maximize your build cost and land use, just like most professional apartment developers do.Control with New Construction: Starting with a new build ensures fewer risks, as you’ll have control over the property’s condition and avoid surprises from existing structures.Pro Tip: If you do go with an existing property, make sure to thoroughly vet the deal to avoid hidden costs and issues.For first-time investors, multifamily new construction is often the best way to scale quickly, reduce costs per unit, and build a sustainable rental portfolio.

Would you be able to give for information.Some question I might ask: Can you get access to the land or is it surrounded by other people property?

buy vacant land lots for 10 to 20 cents on the dollar. 5plus acres large.

For me personally, I chose Reno because I wanted to be close to Northern CA (where I have family), I love the outdoors and being close to Lake Tahoe, and all of the underlying tech and manufacturing jobs coming into the area, coupled with land constraints juicing appreciation here. 

What type of property and where would you leverage this toward, Single Family, Multi Family, Commercial, Mixed Use, Land...?