If you believe you will be financially ready to build a year from now, perhaps you enter into a lengthier contract where you can obtain all of your building approvals and then settle at a later date.

The project was managed by one of my property managers for a 10% fee.Leasing and Property ManagementWith renovations complete, the property was ready to be leased.

They were turn key and ready for tenants.

If heat goes out in the winter we drop off several units, so they can be placed in different parts of the house - including every room with water like kitchen and bathrooms.We also have dehumidifiers, carpet blowers, shop vacs, puddle-sucker pumps, extra hoses, extra sump pumps with battery pack, squeegees, and portable AC units ready to deploy. 

Getting ready to rent my first property!

This increased demand is in areas that all ready have limited supply.Since the rates started to rise, my appreciation forecast has been conservative (as I have indicated in numerous posts) for my San Diego market (I have been underwriting at zero appreciation near term) and fortunately for me the market out performed my forecast.  

Setting aside the whole "cash flow" thing for a second... if you add up your down payment, closing costs, and any rent ready and commission costs... it seems like you are probably around $80-85K out of pocket total. 

Make use of the 6 month period, don't commit until you're ready to spend the time. 

They are ready to move in asap.

At some point the gov bond market drys up, the gov becomes desperate for cash, and anyone with deferred taxes looks like a fatten cow ready for slaughter.