That if you do not have any construction experience, do not personally know the tasks involved, do not have the right relationships or connection to material suppliers, do not know how long things take to get accomplished, do not know engineering requirements, do not know soils or issues involved with working with different soils, do not have experience dealing with city building departments, planning departments or civil engineering processes then building it not for you. 

@Sandy Uhlmann I was curious because I have heard differing opinions on what constitutes an arm length transaction through the SDIRA.

I could replace sewer line during my rehab for 1 to 1500 buckarros.. well worth the dollars in my mind and again this goes to the newbie investor not knowing what they don't knowTAke Texas for example I doubt one TK operator talks about Soil expansion and what needs to be done to keep your foundation and house from going cady wampus on you...

@sam I don't have  a budget yet for foundation. as   @Manolo D. said you need soil report and a survey to see how much excavation, cut and fill, concrete and re bar you need. this could be tremendously expensive. however I saw small projects on hillside has been built for $175 per SF but there was not much regrading there.

The thing to consider is that you may have to do a special foundation (piers with a void under the beams between the peirs) if the soils are expansive.

Due to the National Flood Insurance Program being massively in debt due to Hurricane Katrina, Sandy etc, Congress has started phasing out the subsidies for flood insurance - this just started last year.

For example, if you have experience and an understanding of soil and engineering, you might focus only on acquiring properties with minor foundation problems. 

You will need a site plan of where the new building will go to show where you will want soil borings done by the geo tech. 

With all the developments you mentioned and with Denver affordability reaching a ceiling in much of the metro area, Elyrea/Swansea/Globeville is very much in the path of progress, but at the same time the smelting plants and refineries of ASARCO literally poisoned that area to death for many, many decades, making the soil extremely toxic. 

IF you allow it, I would spell EVERYTHING out in the pet addednum including the penalty for not picking up the dog waste; no digging; no soiling in the house; must have all required vaccines, etc.