You need to go work for a developer first.That's how I learned that business.I wasn't an employee but a friend had a old coin laundry built in the 60's and a developer was approaching them to sell for redevelopment.My friend brought me in (as an agent) to help negotiate with the developer.The developer then brought me on to help with assembling the other 20 parcels on 25 acres for a new mixed-use retail development as they were impressed with my negotiating.Over the next 2 to 3 years a learned a lot about development.I was mainly on the front end doing land assemblage however I was included in many meetings and learned a lot.How long the development takes is about funding,structure,politics,timing,and size.The bigger the size the more it impacts an area and the more regulations and controls they put on it.The developer can typically partner with the land owner or set up an equity share structure on the back end.The developer typically takes small consulting fees during various stages of putting the land together,meetings,first phase of construction,etc. until completion.They make the most on the back end when they have performed.A project can have more than one developer or a single company it just varies.I haven't done any land development in years.Most developers are taking cash and buying reposition plays in good areas for less than build cost where they re-skim the outside.New development is still ongoing but it's in really great areas that are a safe play.From what you have stated you are not ready to take on this task.The money you think you will be getting will pale in comparison to the lawsuits that hit you when you screw up and lose people's money from inexperience.Don't think a disclaimer will protect you as they will come after you anyways.Why don't you list the land and market it to developers and take your commission that way and let the developer take the risk??

I know I do not have enough money for a down payment/closing cost and reno now, but figured by the time I found a good property and assembled my team I could have enough saved up (6-8 months).

We're currently in the process of finalizing our business plan and assembling our team (by the way, if anyone knows how to find a reputable attorney and accountant who has worked with RE Investors, I would appreciate any advise).

@Bryan Hancock I see you have been doing more due diligence on this type if funding and so this might not be news to you, but here is what I now know:The money can take a while to assemble because most investors do not invest until they have been awarded green card.

I have spent ten years assemble a team of great subcontractors and I still find myself looking for new specialists all the time - for example a waterproofing contractor; I did not even know that someone would make a living of just that; they did nothing else than spray the outside of the basement walls with tar and when the bill came I thought they had missed a zero - it's ususally the other way.Here are my two favorit ways of finding contractors.1.)

try to stay as close to home as possible so you can actually go see the properties and meet the team you assemble. 

It also would allow immigrant tenants to file civil claims against their landlords if they do.Another bill by Assembly Majority Leader Ian Calderon (D-Whittier) would ensure that no state office or entity in California could compel a landlord to obtain and disclose information on a tenant's immigration status."

California Assembly Bill AB 2962 was approved and signed into law by California Governor Arnold Schwarzenegger on September 22, 2006.

Once you assemble all of those elements then it is just a matter of practice in negotiating and learning as you go. 

Assemble an "Army of Bird Dogs" or Property Finders to help you locate target deals in your desired market areas 4.