I have one and am busy developing two more. 

Darrius  Local PM here - happy to help, we have multiple developments that are gearing up to sell in the next 6 months, few small multis and townhouses.

Look up ideal existing performing properties, your "hero's" as it were, find out who own's it, and reach out to them. 

Most of the people that I know that seem to have high net worth you just kind of develop it more accident than on purpose.

Quote from @Jacob Campbell: Hello - After listening to the podcast, I've made a commitment to purchase a rental property by the end of Q2 this year (ideally by the end of Q1).

How much cash is ideal to have on hand when starting out?

Ideally you need to throw 3-4 hours a day at it to see fruit down the road.

yup stayed in the land bizz till late 80s and was in land and timber in the 90s and of course from middle 90s to now I have developed about 500 to 600 lots for homes.And all the while I bought land to flip..

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork.Under foreclosure laws, you have to send appropriate notices and try to work with the borrower and offer a loan mod before foreclosure anyway. 

As you develop the park I would strongly recommend your homes be individually metered for water, sewer expense prorated and garbage paid by tenants via individual can service.