You're true about Cummins being the major player, while there are other local employers but as big as Cummins. 

However I regularly see new people coming in, Large national players as well as small guys, and they get crushed.

Because of how few players the land market has and the nuances of selling land I would suggest you partner on this deal with some one who sells land.

I know the other players in town are looking at the property.

The reusability of the credit line just makes it that much more of a player in long term plans.As for pricing I would say you should do that based on your risk tolerances.

So there is no question in my mind all these folks that think Hey I will just help these people and let them invest with me while I do all the work.. etc.. run a huge risk.. and for what to buy some low value asset to make a few grand a year.. not sure like I said why anyone would do that.. but I suspect its taught at some of the note schools.. and we know gurus are not on the front lines of what is legal and not.other wise there would be no reason for the bigger established players to create 500 series funds.. no need at all they would just JV all the notes.. easy peasy... in CA you can fractionalize notes legally without securities but you need to be a CA broker or NMLS or have consumer finance license all these states have their thing.. that was part of my problem in Oregon..

A good rule of thumb is, the more players involved, the more focused the target and strategy should be. 

They are packed with tons of knowledge from some huge players in the market.

Through multiple layers of hearsay, I have learned that the major player here in my neighborhood has stated that he will no longer develop rental units and instead focus on commercial. 

I am thinking developers/operators and some funds/institutional money will be big players in these zones, although if smaller investors can find big enough value add opportunities there could be the potential for some big long term savings.Interestingly enough it appears that the Mall of America is smack dab in the middle of one of the OZ's.