And before someone says that's speculation, no **** sherlock so is all forms of investing. 

The GoldMoney path is full of red-tape and speculation and fees.

However, this approach is speculative and risky. 

I'm a cash-flow investor not a speculator so this is purely academic

Katy vs piney point, cypress vs. the heights is more of a locational speculation from years out and why you follow the businesses. 

I’m not speculating the numbers you providing are incorrect.

Development is a speculative investment, and limited partners typically will want a much higher upside potential, so you might be better off starting a fund where you agree to share the profits with the investors even after they recover their initial investment. 

Real estate by definition is speculative for the most part but value usually increases over time all things being equal (Absent cataclysmic events). 

While it's speculative, if you're comfortable with a 35%-40% down payment, refinance and pull most of your equity out if rates come down in the following years—a strategy implemented time and again by experienced investors.

my problem is I have not found anyone who will look at the deal until i have it under contract so I dont know how it will go and I am speculating as to what I think it will go for.I don't have 500 or a 1000 to lose on a gamble.