More deals are killed by procedure and regulations than anything else it seems. 

In Oregon for instance unless your doing a PUD open space cannot be required and you MUST create lots to specified zoning density.. in other words if your zoned 5k sq ft lots U cant ask for 7500 sq ft lots you must be within 10% of the base zoning.

DM me so I don't lose you, we are not based there (CO-based until probably 2033)

Based on my current savings rate, it would take me about 3-4 years to save up enough for the down payment on my first investment property.

they took options on the dirt subject to plat approvals.. then marketed the property to builders.. why they need me is that these projects require 500k to 1 mil up front to get approvals and thats what we provide.. our return is high based on risk.

@Peter Mckernan Copy.... it's a "% based payment" off scope of work. 

I think it is fair to say that there is somewhat of a tradeoff between markets that provide positive cash flow on day one and relatively high appreciation-based markets.

Another variable in the amount of rent that a Section 8 tenant can pay is HUD limits their rent payment based on the amount of their income. 

Since you said you don’t really need the cashflow because you are sitting on huge reserves do the math based on income instead of cashflow.

We're willing to live almost anywhere in the greater Sacramento area based on what we can afford, provided of course that the property is in a decent neighborhood that has a good chance of attracting responsible tenants.As for budget, I believe we could get a conventional loan for properties up to $600k, but my strong preference is to find a distressed property (or seller!)