I bet people will not be getting paid their dividends very soon.

To confirm my recommendation ask him for references at his current developments, I bet he won’t give you names and will make up an excuse!

Your best bet since your working on your capital are going to be to use low money down hard-money lender.

Next bad news is there is only 12 1/2 acres there, versus the 25 we bought.The surveyor the day before had gone to the land registry to get a map.Contacted the Buyer agent we use, and asked to make sure his group did the title search as noted before. 

So it was managing a risk rather than for profit.I’ll defer to others on mortgage paydown versus investing, other than to say that you may want to consider how far towards your next house / investment property deposit you are with the money instead of recast / investing.James 

Appreciation: Are you primarily looking for immediate cash flow (rental income exceeding expenses) or are you betting on long-term appreciation?

Your rate of return was 13% versus the 9% return not utilizing leverage.  

The owner needs to know you are solid, a good bet.

You'll find your ceiling where people snag your unit and are happy versus it sitting empty.  

That becomes a "he said, she said" in court and I'd bet most judges would side with the plaintiff. ;-)