That would be glorious...lol quite honestly to get a longer contract and have them turn into longer term tenants provided they are good of course.

Though I would caution you on hard money lending until you understand the industry a bit better, that can be very rewarding but you have to be able to do your due diligence on deals because you're turning over your hard-earned money to an individuals project, often a flip. 

We can also lend to both individuals and LLCs.I'd be happy to share my experience as both an investor and as a lender.

I can't tell if you want to buy land from an owner who finances or if you have the funds to buy and then sell the lots with you being the owner who is financing to individual lot purchasers?

BUT the point is...do you think you or the agent will sell it for the highest price and provide higher net proceeds to your family member? 

That makes your bookkeeping easier, and it can also provide liability protection if you hold title in an LLC.

Your realtor should be the first source of guidance.For anyone here to provide you some guidance, you have to be more specific on the ask.There are always many things to consider when planning for different strategies.

A good ballpark is $1,000–$2,500 per unit, but this depends heavily on how extensive the turnover is and whether you’re self-managing or hiring contractors.If you’re looking for more precision, connecting with local property managers or contractors can provide insight into typical costs for properties like yours in the area.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

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!)