The road is not in, the water main not installed, the sewer main and laterals not installed, etc.Just having the engineering done, and the plan approved, adds significant value to the land, and makes it attractive to a developer who now, doesn't have to go through all that work. while in todays day and age yo would need all those approvals to create a paper lot.. back in the olden days paper lots were created by simply drawing them on a map with zero engineering they did survey though.. and there was no thought given to reality of actually building them or providing services.. 

I recommend they call a rooter service to have lines snaked.

Realtors can compete on commissions, or even offer a flat fee transactional rate for service. 

It was really tough to do at our scale but if you are SUPER on top of things you could manually make blocks once reservations come in. 

Buying an income property requires far more skills and services than buying a home.

We're seeing an unfamiliar clause and wanted to verify that we're not making a mistake.The broker asks for a $500 fee (they say they reserve the right to retain/charge in its discretion, in any non-closing event to cover for its services).Is it common for a broker to ask a $500 fee out of the EMD in case we back off the offer?

You might benefit from having a co-host to handle the reservations, guest communication, etc. but your onsite, long term PM can handle maintenance requests and other work that requires onsite management

Think at things like the demand for rentals, the possibility of property appreciation, and the property's closeness to services and job locations.Work with a Real Estate Agent: Assist a nearby real estate representative who focuses on investment homes and is cognizant of your financial objectives.

Depending on how your reserves/portfolio look like, there could be numerous strategies. 1031 exchage?

Is this a service you would want your accountant to have?