Does it make sense to cheap out over the few thousand dollars it will cost to go through a proper escrow and title process?

There is a safety and follow up piece to have the proper information.

The important part is operating it properly. 

I taught myself Spanish, I already know the construction crews in the area, the realtors, the communities, the land, I have someone managing the property, I have a maintenance crew… I already did an incredible amount of the work involved in finding a deal and turning it around through reconstruction and proper management.

Or they could never get to the latter, because they never had the beginning characteristics which include the former to develop properly. 

Section 8 is a nice program, but you will get low IQ tenants who don't know how to clean properly.

And if they are a hobbyist/part-time builder, then they should engage the proper professionals, i.e. a title officer, civil engineer, architect, contractor et al to assist in reviewing the project's feasibility.

I disagree with your sentiment about a bull market correlating to my genius I just manage risk properly with a model I have ran for years and in the past month / month and a half have made almost another 100,000.

I am interested in hearing about your experience traversing the 'green standards' new construction and permitting process in KCMO proper.

@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?