How did you set it up, and how did it work out?

The public voted in favor of the amendment by almost four to one.That's why, in Arizona, many transactions (especially residential ones), do NOT have a lawyer involved.It boggles my mind that someone will make what might be the largest purchase they've ever made in their life without having a lawyer look things over. 99% of the time things work out fine, but that 1% of the time is when I usually get the call (and it might be too late by then) ...

Do you have enough cash reserves if your REI doesn't work out? 

If I have partners I guess I could always use them as the POF base in stead of myself.I understand not being able to list the contingencies for a land deal but its really as simple as saying "Due Diligence" and then when the number don't work out in your favor, once the DD is done, you simple say the numbers dont work and you get to back out with your full EM payment?

I bought two of these awhile back and turned them into performing sfr rentals at around 35k plus quite a bit of sweat total invested for a rent of 1550 per month.They didn't all work out, but some worked out great.

@Chris Jurgens, run your numbers and you can find out, I use this simple bar napkin math to quickly analyze, and then if those numbers work out, I analyze in depth. 

It's bound to work out better in the long run.

That will come if and when your numbers work out in favor of a positive cash flow. 

How did you agent work out?

Partnerships are garbage, they never work out in the long run, as people’s priorities change.