These were plats of subdivisions that were platted and recorded in the early 1900's but never developed and generally owned by one individual or company.

For example, I know a lady in my local market that is very successful in the land business and has developed a niche that cashflows very nicely, without a lot of stress, as she puts it though I can't imagine how that is possible. 

Hello Scott, developers require a minimum down payment of 30% and the balance in  to 9 months in a pre construction condo.

Does price per square ft factor or is it just ARV.

My aspirations include becoming a real estate developer, so I want to learn as much as I can.

Furthermore, I have an additionally factor of safety of 1.4-1.6 which means I say it's capable of only 70% of what it's actually capable of.  

It is the State capital so there is always economic development happening which drives job growth and demand for housing.

Closing Costs – Remember to factor in refi fees and how long you plan to hold the property to determine if refinancing will save you money overall.Since you mentioned owning the property for only a year, your equity might still be limited, impacting your options or leading to higher costs.

There are definitely some municipalities that are easier to get along with than others, but all are open to development.

Then you need to add in pain in the *** factor, which for an older expensive property while you live abroad is quite high.