At a minimum, having viable plans in place for development will make these lots more marketable and valuable to potential builders when we have conversations. 

Bham is a great market.

The original six month tenant I had extended the lease 9 times and stayed a total of 5 years, paying me about $15k over market rent annually.  

I have been investing in the stock market for 5 years and I am now transitioning over to real estate after doing my research on real estate for the past two years. 

Value: I am paying current market value. 

Renting to a friend can complicate things, especially if you're starting below market rent.

I would consider getting 1-2 deals on market before you purchase off-market.

You’ll want to make sure your property is styled and stocked to fit the target market catering to what Big Bear has to offer and what guests expect.

Then to find inventory, you need to search out, i.e. network, and find out who is creating these type of notes or you help people that may have an interest in seller financing how to create a note that is marketable to the secondary market.

They have been managing fine, although not too busy, I guess because of the market.