Another aspect which mitigate some of this risk is to really understand the contract language.

I am comfortable with the construction aspect, but working on strengthening my business knowledge such as taxes, arv's, etc.Thanks Cody.

They could reduce all title aspects, and then you'd pay a title company those fees.  

If you don't know where you're aiming then you'll never get where you want to be....I found this to be true not only with golf but also with investing and a bunch of other aspects of life.Set your target first and then fill in the blanks.

The "no money" aspect, strictly means that you are not purchasing the property yourself, you would be assigning the property to an end buyer.

We pick one of our favorite restaurants, book the entire place on one of their closed nights or a slow night in January, and invite our work team (plus one guest each) to join us for dinner and a celebration to show our gratitude.Most of our construction/trades contractors don't have health insurance and put off aspects of their health care.

Also, there is more to the deal then simply negotiating the deal - make sure you understand all aspects of the closing process if you attempt this without an agent (from inspections, to objections/clauses to get you out, to on record and off record title work, just make sure you know the full process which is what a buyer's agent can help with).

I’ve been trying to stay focused in that aspect also. 

Anyway, your point stands and this is an aspect of renting we have become more conscious of recently.

In either case for what I'm doing, I need an architect for the site plan for the change of use and a land use attorney for the legal aspects and complying with the notifications to the surrounding property owners.