Hey BP Community,So I am in the phase of analyzing properties and understanding the market around me further.

They are also expanding in phase 3 so there are a lot of similar homes that will be competing (55-60 upon completion) against each other once all the homes have sold.

If not, you want to consider a standard construction loan (or see if you can phase-in your hard money loan) so you can take draws as you need them. 

Congratulations on making a jump toward the next phase of your life.

It sounds like you may already know all the restrictions to buying with cash so if so, then just skip to the 3rd section which is the solution phase.  

Timing the market means adjusting your investment strategies to maximize your returns and capitalize on opportunities best for the conditions of the current market phase.

I'd get started on the planning and getting bids phase but I would still hold off until the Deed was recorded before signing the final contracts and having your guys break ground.

I would definitely have a property manager I'm currently in the phase of training myself to analyze homes/deals to understand the market and narrowing down my criteria and I'm definitely enjoying that process :). 

I'm in Indianapolis, IN and I'm just now starting the learning phase of real estate investing.

It is a gut rehab and we are close to finalizing the rough-in phase.