I would think your conditions of approval will dictate open space etc.Good luck with it sound like a nice project !!!!

If company policy dictates firm adherence to the contract, then why did you and Alan keep me waiting on a refund proposal for 6 months?

Demand dictates price.

And if you look at charts, rates do not exclusively dictate the direction of prices, but they can effect the demand......And don't fixate on the last ~5 years and think those were typical, they're not, they were an anomaly based on many factors and not typical of market cycles or timing.

This is what is going to happen to unlock trillions in illiquid capital b/c the value of each security will be dictated by the performance of the asset. 

If company policy dictates firm adherence to the contract, then why did you and Alan keep me waiting on a refund proposal for 6 months?

It is the bedroom count (lot loading) that dictates the septic size generally.

Let time and leverage dictate that for the houses return, you are getting deeper on that asset when no one knows how it's going to pan out. 

The situation dictates the reporting requirements.

as  new home builder I can tell you that in many markets existing props are far cheaper to buy than trying to build from the ground up and of course you have far less drag on the money. so your location where you want to invest will dictate..