This will leave you with the max price you can pay for raw land. 

even then thats for splitting up the income/expenses.)Yours is more complicated because you are starting from raw land and building. 

Right now I have just refi’d and sold some properties which gives me the cash to reinvest in a large 35+ unit multi so I know you are in a good spot having the cash available to take the plunge…don’t hesitate because I really think the rental market is becoming very strong and it has been the smartest thing I have ever done even with all of the hard work and crazy moments (raw sewage under the house for example :).

Banks do not issue loans on raw land unless it is “Prime” real estate (in the heart of Downtown Chicago, Manhattan, etc) so you need to prepare a financial structure to obtain the land.Good luck!

It’s raw land. 4 acres that is connected to my farm.

What has been your experience with dealing with trustees or beneficiaries involved in trusts that own raw land for development? 

Be prepared to do more when it comes to raw land.

Be prepared to do more when it comes to raw land.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm new to development and would like to sponge off of your wisdom regarding this situation:I have 3.8 acres of raw land on the edge of a small/medium size town historic downtown strip (90k population).

Developing raw land is the hardest build to do.