You have what is called a known unknown.

We have survey and elevation but still trying to sort out a few unknowns.

Thanks for clarifying your previous statement for the unknown including me. 

Yes, In an unknown direction

I'm sure I can get one of them to accept a contract from me for the right price.But there are a lot of unknowns, since I've never done this.1) What is the time line for a project like this?

Lots with a mobile home, but lot only and not the mobile home, lots with EPA issues, lots full of junk where it will cost more to remove the junk than the lot is worth, partial interests, parcels with unknown owners or addresses....those can be tough to resale or get title insurance on....stuff like that.I've seen in those San Diego auctions for example time shares...you think they're great deals until you find out the year maintenance dues of $1000/month or something like that.....or condos in Florida that have 3-4 years of HOA dues that haven't been paid and don't get wiped out by the tax sale or stuff like that.   

, liability concerns about the time when I'd own the land, and having to deal with some of the aspects of residential property vs her bread-and-butter of commercial - it sounded to me like it was a case where there were just a bunch of unknowns that made her uncomfortable.

. - Cons - tenant experience during development and traffic congestion after- Cons - unknown property appreciation as the new building changes dynamic of communityThoughts?

Working in the unknown is always a huge challenge especially as you are starting out...my best piece of advice would be to get more money if everything you are doing is a NEED, which it sounds like it is.1. 

Purchase price: $64,555 Cash invested: $6,200 Sale price: $154,000 Second BRRR and First Short Term RentalPurchased on Construction loan with $27,569 construction hold back.Extra Rehab costs (plumbing, A/C, and roof unknowns): $10,000Down payment and closing costs : $13,656Cash out Refinance (cash back to us after fixed and rented): $17,452Total Out of Pocket after refinancing: $6,200Cash flow varies by month as this first year we are doing a Short-Term Rental.