You will essentially be buying a pad site so you would have to build new.Also realize what you will pay to insure that in the future as part of your costs

But the contracting businesses get 1/3 down at contract signing . 1/3 when we start on site , and final upon completion . 

Along with the entity formation expenses if you create the separate management LLC, you will want to have general liability and perhaps even E&O or professional liability coverage.  

Go visit Memphis, Nashville, Knoxville, Raleigh, Charleston, Savannah, five cities in Florida, Atlanta, Birmingham.   

Have you ever visited Alatna and/or the surrounding submarkets? 

3) Do you have any experience on auction sites for foreclosed homes? 

One site says you are limited to 5% while another says 10%.

A few other resources that offer funding opportunties for blighted and/or brownfield site renovations are MPCA, Kansas State Technical Assistance to Brownfields, DEED, LISC.

Never missed a visit after that, even if I didn't have a guest coming in right away....

I saw a lot of Duplexes in Arlington area but I’m not familiar with the market there so I need to schedule a visit for some times to go there and meet with people to know more about TX market.