Wholesalers use the “option” clause, inspection clause, or a specific “weasel” clause to terminate the purchase contract if they are unable to contract with an end buyer at a higher price.  

Direct mail still makes an impact too, especially when you’re targeting specific areas.

But, that is not always the right answer and you should speak with someone familiar with your personal situation to get advice specific to you.

I recommend as a first step in your education in this new type of investing - join a Community that is specific to syndication investors.  

Now if you want to buy and live there forever or you want a specific location or lifestyle or the amenities, might be something to consider, but not for investment....they're for living.Your best option right now depending on your income, is probably to buy at least 4bed house or 5 bedroom if you can make it work financially and rent bedrooms. 

@Jake Hughes A cost segregation study is a tax strategy that allows property owners to accelerate depreciation on certain parts of a building, resulting in larger tax deductions in the early years of ownership.

It works like this:(1) Save up enough money for a down payment(2) Buy a single family home that you will Airbnb/VRBO(3) Ensure the “average period of customer use” is <=7 days(4) Materially participate (5) Cost segregate the property, resulting in large depreciation deductions(6) Use the losses from step 5 to offset your W2 incomeWhat makes this possible is that operating an STR is considered “non-passive.”

Specifically, I’m interested in understanding the costs, potential returns, risks, and strategies involved in transforming raw land into a residential neighborhood.  

You’re thought process is good, BUT, if your market timing is incorrect, or the specific property you purchase lacks tenant demand, you can get stuck with an “alligator” for a long time.  

It’s crucial to stay disciplined here, as overspending on land can limit the funds available for construction and other expenses.Development Scale: I’d recommend avoiding developments in the range of 4-50 units unless you have a very specific reason.