You have to be in a house 7am-7pm pounding nails in order to understand costs.  

Account Closed I think most people have hit the nail in the head. i just want to extend an invitation to our Anne Arundel real estate investor meetup. its completely free and has zero pitch.

But if you have a lot of cash lying around and don't mind a 4% cap on a MF, then maybe you can get some appreciation if you hold for a decade or so.  

@Grant Boynton  Matt hit the nail on the head.. go sit down with your most experienced civil in that market. they will be able to answer most questions right off the top ... you could also simply walk up to the counter at the planning department and discuss it.. construction financing will be huge stumbling block for someone in your situation.

@George Gammon, you hit the nail on the head!!

@Troy Gravett nailed the other items. 

your numbers seem high in some places and low in others, but i dont know local market costs for things, I would be surprised if you could get title done for $450 total,  most of the auction houses nail you with $1500+ for title and $1500" to close, they make a ton closing your deal, (like auction.com, H&M ect.) the numbers look good, but just know, it never goes as planned, and their will be hidden expenses you didnt see, i generally add $2000-$5000 for Misc.

@Mark Creason nails them above.  

@Marcia Maynard hit the nail on the head.  

Somehow, getting those people nailed down makes it feel more real to me.