It may be too low to even start the conversation with them and then I'd be wasting both our time.New builds are new to me, so I like the mental exercise to see what kinds of numbers exist.

Try not to tie-in substantial lessee improvements with the option exercise. 5.

That's the plan so far, but still exercising other people's strategies like yours so I appreciate the info.

Just looking for options to exercise this strategy after four mortgages. 

@Nick Noon Normally what you would do figure out your offer with the kickback, add 6% (or 6.3%,--I'll leave the math as an exercise) and ask for 6% back from the seller.  

Can someone please post the link to the right threads to go cover the below concepts, I am not quite finding the details I am interested in hearing more about.So you buy a Note for cashflow (for the exercise, it's a new PN).

Only if you succeed would you exercise the option and buy the property and start with the actual development.So, you're going to have to spend some bucks up front and there is a very real chance this will go nowhere and the up-front money will be a total loss.  

You'll get a better deal with them over the ones from the MLS but you should exercise caution as well.Your best bet is to do your own marketing to find deals. 

I have a very limited knowledge, but it is increasing daily by reading forum post, listening to podcast while exercising and just before bed, and talking to my real estate agent that I have used in the past.

With that said, I have been pretty off since I started doing this exercise.