When developing, I'd first talk with the city building/zoning about what they want to see more of and where, and try a simple project that should be smooth sailing on plan approvals, saving you time and money. 

You can usually find some events by doing a simple google search.

I'd agree with John's simple take here.

I was shocked as I thought it would be very simple (which it is), but some syndicators will use funny math such as not counting fees, placing expenses on a quarterly or yearly basis when using IRR (backloading to end of year). 

Although instead of knowing about roofs and rehab.. land folks need to know about:Zoningwhere is the power  is there internethow deep are the wells or is its an area that water is super toughDoes it perc. and or how expensive are septic systems.Wetlands Etc.Now if you target land with all city services then its just dead simple.. figure out the retail value and buy below it and do your flip..

The capital invested in this project is not as simple as the template BP gave me so I'll explain a little bit more here:This is a 1031 exchange build to suit.

When I was active, the O-4 Good Idea Fairies always tried to re-invent how we did business, and 95% of the time, they overcomplicated a simple process making our lives way harder.

Do your due diligence upfront on the person (simple google search with their name and lawsuit or scam can weed out many - as well as a search on BP)2.

I am a real estate wholesaler operating for the past 4 years in the DFW Metroplex and I found that it's better to keep things simple, and not, deal with real estate agents who don't want you biting off (what they view as) their profits.

We did a 100% gut/rehab on a 1950's house in 2018 and converted it to a duplex, turned out beautiful, salvaged the original wood floors in parts of the house, put good LVP in the rest, simple plastic mini blinds on every window.