Starting to think conventional turn key purchases are only possible remotely.The Key to what I am trying to understand with building spec. is making sure one is able to appraise the development for the actual costs plus margins so the bank will distribute final payments.

We installed hard wired smoke detectors so that you don’t rely on tenants to replace batteries, fire extinguishers, CO2.

Some people go detector crazy which gives the tenants more batteries to take and during inspections all detectors most work so we keep it to the min.

For example, find a bank that will finance spec building.

When converting a SFD the zoning folks will usually want to see the plans a specs, exterior elevations.

I can see supplying batteries for smoke detectors.

Not from a "I'm thinking about being a spec builder" perspective (believe me, I'm not), but from a "how many markets out there have a median price below the cost of construction".

Like many of the other posters in this thread, I've also had success in closing the sale of two spec homes in May.

If they think you are being reasonable with the price and honestly trying I think you will get their cooperation.As an additional strategy of liquidation, have you thought about teaming up with a local builder to help market the lot and his spec home?

I sold a spec house off my Postlets ad that had been sent to Trulia, in about a day!