Meaning also do something to get enough money in your pocket to buy this cash, so that the purchase is not your last penny, or you're not gambling 100 percent of what you have on these deals because as you know sometimes they do not work out.Just my 2 cents.

Re-igniting this conversation for 2020, seems like they have made some updates since the start of this thread. 

In that case, it's getting close to gambling instead of investing.I'm really sorry to be the bearer of bad news here and I'm wishing you all the best! 

I feel as if this investment might be a gamble with this open permit, considering it most likely has to pass inspections before the permit is closed.

If unaffordable (compared to median income) it is a foolish gamble and a bad decision financially. people call this a lifestyle choice.If you want to spend on the family, You may want to buy a second home with a nice garden for 100-200k in the middle of nowhere for week ends.

Of course, you can also just gamble and go with the cheapest PMC, but you'll usually get exactly what you pay for.

So as far as the percentage to compensate them - that really depends on who is doing what and for how long. 20% of a deal that will only get $10k of profit at the end isn’t very attractive - but that’s the gamble you take with equity.

And if I were a betting man (I'm not), I'd gamble that you probably have a pretty good recommendation for just such a mentor group 😛

If you want to gamble on appreciation just go to the casino and put it all on red or black at the roulette table. 

The home prices are astronomically high and while they could go higher, I think that buying one would be a huge gamble.