My first post was to help you examine reasons why you did not get an answer to your first question. 

Elliot EricksonBelow is the pricing for the first purchase transaction for a purchase price of $68,000.00 based upon the transaction being a cash transaction:Seller charges:Owner’s Policy - $1,525.00IL Policy Fee - $3.00ICPL (Seller) - $50.00Zoning Certification Processing Fee - $80.00Water Certification Processing Fee - $80.00Zoning Certification - $120.00Update Commitment Fee - $125.00City of Chicago Transfer Tax - $204.00State Transfer Tax - $68.00County Transfer Tax - $34.00Notarial Record Fee (If Applicable) - $25.00Notarial Record Filing Fee (If Applicable) - $5.00Recording of Release (If Applicable) - $54.00Payoff Processing Fee (If Applicable)- $40.00Proceeds wire fee (If Applicable) - $40.00Buyer charges:Closing Fee - $1,075.00ICPL (Buyer) - $25.00Recording of Deed - $54.00Recording of Power of Attorney (If Applicable) - $54.00 estimatedWire Fee (Per wire) - $40.00Document Administration Fee - $25.00Email Fee - $40.00Later Date Examination - $125.00City of Chicago Transfer Tax - $510.00Below is the pricing for the second purchase transaction for a purchase price of $75,000.00 with a loan/mortgage policy:Seller charges:Owner’s Policy - $1,525.00IL Policy Fee - $3.00ICPL (Seller) - $50.00Zoning Certification Processing Fee - $80.00Water Certification Processing Fee - $80.00Zoning Certification - $120.00Update Commitment Fee - $125.00City of Chicago Transfer Tax - $225.00State Transfer Tax - $75.00County Transfer Tax - $37.50Notarial Record Fee (If Applicable) - $25.00Notarial Record Filing Fee (If Applicable) - $5.00Recording of Release (If Applicable) - $54.00Payoff Processing Fee (If Applicable)- $40.00Proceeds wire fee (If Applicable) - $40.00Buyer charges:Loan Policy - $500.00Closing Fee - $1,075.00ICPL (Buyer) - $25.00ICPL (Lender) - $25.00IL Policy Fee - $3.00Chain of Title - $125.00Predatory Lending Certificate - $150.00Recording of Deed - $54.00Recording of Mortgage - $86.00Recording of Power of Attorney (If Applicable) - $54.00 estimatedRecording of Assignment of Mortgage (If Applicable) - $54.00Wire Fee (Per wire) - $40.00Document Administration Fee - $25.00Email Fee - $40.00Later Date Examination - $125.00City of Chicago Transfer Tax - $562.50Endorsements - $175.00 per endorsement

http://www.tallytwoinvestmentgroup.com/eviction/The final straw that made this deal nerve racking was the fact that in order to profit on it, we had to be able to divide up the 5 acres into 3 separate parcels.  

So I broke it down to examine if this was a diamond in the rough, with a bad broker, and a tired owner. 

Questions:#1 - What are some good resources to examine to learn about the process of land development?

Government examiners or officials aren't eligible.Is the clerk at the title company who has knowledge of investor's deals stepping outside financial regulations going to make a phone call?

The attorney passes away who held the deed, his/her office is cleaned out, duties transferred by the Bar or other arrangements and that trustee must be tracked down, often finding that the executed deed was lost. 2. often buyers and sellers would DIY the deal, no title examination was done.

Its nerve racking but exciting at the same time.

Carefully examine your rollover risk and the following: - tenant quality.

Anything that deviates from your initial financial 'picture' will be heavily examined and may throw your loan into jeopardy.