Third, if they have $2bn of agreements (whatever that even means) why haven't they actually started building anything or even closed on the land.  

Dimensional variances are usually the easiest to get, but that doesn't mean they are easy.

I know it is by means of assignment free in an assignment contract, however, what troubles me is understanding the process of assignment free.

@Daniel Baker What do you mean by breaking even??

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Competition remains strong but it doesn't mean your goal is impossible to reach.

I see some lenders out there would just pick the "lowest" rate and the client ends up paying more than 1% of the loan amount at their closing costs.Key point is "Lowest" rate does not mean the cheapest rate  I have worked in traditional community banking for over 7 years.

Haha, doesn't mean I can't be convinced to head in that direction though. 

Additionally house tenants bring more of their own appliance, like refrigerator, washer and dryer; which means tenants are responsible for repair and replacement of their own appliances. 

Just because someone is buying at 70 to 90% of value doesn't mean anything with respect to the 1% "rule".