I'd wager using the cash to buy another property and waiting 2-3 years to let the existing property appreciate is the way to go in the long run. 

Until the construction begins all that preliminary work has to be funded.

A title company can run a preliminary title report that would show the owner of record, a list of outstanding liens and the holders of those liens.

@Bill Walston will chime in here, as well as Bill Gulley ,If you have a lease and a separate option, no rent credits, you are not offering financing, just taking the property off the market for a set time, and giving some one time to get their DTI and Credit better.Go take the Tenant Buyer to a RMLO and do a preliminary 8 point Dodd Frank check (See What is a Qualified Mortgage http://www.qualifiedmortgage.org/definition/)Bottom Line - Have a RMLO look at every Tenant Buyer on a Lease with Option just to be safe.To have the agent get paid, you could have some of the option fee to agent, and a lien on the title to have the balance of commission paid when the house sells.

According to preliminary data from the NAR (National Assoc. of Realtors), the number of investment properties, as a total percentage of total home sales, is declining.

Have you done preliminary title search?

Hey Guys/Gals       I am hoping to get a consensus on which sites you believe are the best for pulling your comps?  I am in the Jacksonville, Fl market and I seem to go back and forth between zillow, trulia and realto...

I made a preliminary offer, and got close, but ended up walking away because honestly, I had about a $50K cash gap that I just couldn't figure out how to bridge in a responsible way.  

I have been doing preliminary research on where might be best to start building a real estate empire, but I am curious on hearing BiggerPockets members thoughts on the pros and cons of each location. 

If you haven't taken the exam yet they may not be as willing to sit down and give you all the details about hanging your license with them, but I'm sure a quick phone call to each broker's office will give you the preliminary answers you want!