This is Phase 1 of no vacancy.

(I want to phase into MFR too, I'm just not quite so far along as you are)

I spoke with my contractor today and he is going to talk with an architect we have used in the past to see if he can work with us in this preliminary phase.  

Hi folks -  I am looking for a commercial agent to work with in the Fox Valley area (Brown/ Outagamie & maybe upper Winnebago Counties).I'm now starting the hunt for a small mixed-use commercial or multifamily that will meet the next phase of my RE goals.Anyone out there who has done a similar purchase recently and who can make a recommendation?

You want to talk to your CPA first and foremost you don't want to get in a situation were your deemed a dealer and lose your cap gain tax advantages.that said a take down schedule like this is common in the industry.. although CA usually a million dollar property is not a lot.. vis a vi development ground.. and builder developers there usually stroke a check if needed.I suspect though if your going to sell it in phases.the land would be split into 3 phases and you deed out each phase as he pays if off.. but not individual lots that were your CPA can advise you on dealer status.its common though in these scnerios to have accerlated paymentso you have  3 phases  333k each... you sell first phase for  400k.. second phase for 400k last phase for 200k.. this way you get a premium if he fails to buy the rest of the dirtalso in your contract make SURE you demand that all work product engineering soils geo tech that type of stuff is once paid for your property as well.usually in vanilla real estate transaction on the west coast I don't recommend or see the need for a lawyer but in this case I would find a good real estate lawyer tell him these basic terms and things you need then let him prepare the contract.. hope that helps.. and assuming the dirt is in CA.. of course.

This is not just some overnight phase.

With it being built in 2004 (which is the same year as my facility Phase 2) You may be looking at needing to replace some doors, door handles, sliding locks on the doors, possibly repainting the building.

I am still in the education phase and read as much as possible and listen to podcasts in the car everyday.

LIke I said, still in the research and education phase so every little piece of advice helps. 

What unites all of them is a phenomenal economic growth phase (for midwest standards anyway) and haveing a large body of fresh water just down on the beach.