Golf carts are treated like toys because people have vacation brain.Would you provide a car rental for your guests, or leave a car available for them to use?

Just don't want to take on cash out refinances if don't have to.  Yes

Trust me, I've toyed with the idea.Vacant land where it makes sense to build large MFH stock might make sense, but chances are this isn't the land we're talking about here.The reality is most vacant land in Detroit is being repurposed for parks, the Joe Luis Greenway, solar farms, neighborhood gardens, etc.Beyond that, let's say you plan to hold long enough for SFH prices to get high enough where it does make sense to build. 

For example. 70%/30% up to $X in sales, then 75%/35% up to $Y in sales.

I think the old traditional brokerage is dying , more local small and local laser focused brokerage would be created and they can offer more services. 

If you are laser focused on specific properties, door knock the owners if they are local.

@Nando NachiYour budget will dictate where you buy in in the Seattle Market.Plenty of areas on the rise especially with low inventory.With Condo, keep in mind some HOAs will have to weight in on structural changes.When it comes to schools, most buyers laser in on the school district.

I didn't like the idea at first but after the tiring search with no good targets at sight, I am beginning to toy with that idea. 

But we've got a lot of acreage & a whole bunch of kids so we need to store a lot of toys......ATV's, dirt bikes etc...

I have toyed around with the idea of buying raw/vacant land, and running the site planning thru my firm, then selling that shovel ready land for a profit.