Observations from those times...

I guess your point is that every purchase should be profitable but there are financial and time costs that are better spread over multiple homes IMHO.I have also observed that investors with 1 or 2 houses have a hobby.

He said he would take it on for a fee so I was happy to this portion of the project off my plate.1400 – Preliminary Short Platting Services2250 – Boundary and Topo1965 – Preliminary Short Plat Map7,865 – Ready for preliminary short plat submittal 350 – Tite Report, Mailings, etc.4950 – Spokane County Preliminary Short Plat Fees950 – Spokane county Regional Health (may not need until final SP)6,250.00 – Fees needed to submit preliminary short plat 2250 – Geotech (needed for design, held 2250 for construction inspection)11550 – Site Design (held 1000 out for construction observation)13,800.00 – Fees to develop design and construction drawings Remainder for inspection, certification, and final platting.

My thoughts are based on my experience Selling/Managing Residential Real Estate and my research/observations into the field of Real Estate Investing.If you are interested in Real Estate Investing I would suggest you research the different types of Real Estate Investment types and find the type that matches your budget, experience, goals, risk tolerance and energy requirements (among other self selected criteria).

You should spend a few hours observing housing court proceedings- might give you an idea of how confident you’d feel without a lawyer.

Fair observation...he wants to recycle the capital sooner...unit by unit...maximum IRR. 

And 45 days isn't a lot - although honestly these days real estate has become a commodity and I'm observing that the 45 days is more of a psychological than a structural hindrance for a motivated investor. 

Are they cemented in the ground or on a rooftop?

Study, observe and learn.

You're just going to observe so, well, observe.