The relationships you develop are just as important as choosing the market that fits your strategy.David has made some observations about the zip code you chose.Any Particular reason you chose this zip and this property?

I've been involved in municpal planning as well as non-profit development.

Another was for development.

In other times return can be much lower than developed land investments.

Do any of the properties have a view.Example with the houses someone could demo the house and rebuild to take advantage of the view.The 5 unit maybe it could be scraped and a higher density could be built on the land (more stories or spread out more).Mike you need a broker with a land development and income background to help you figure out the highest and best use for holding the current property,changing the current property,or selling the current property.

In addition, how would you get access to the development?

Hi Michael,In "real life" (opposed to my secret investor identity) I am a web developer and run Ally Web Solutions, LLC, on a daily basis.

There are very serious repercussions down the road if you knew about this, and a tenant develops problems - LLCs will not help shield you.

That would be $60,000.So in all, the development costs would be around $175,000, all of which would probably have to be cash or privately funded.Also, you have the cost of the land.

George, I found a great, oversized lot on the Bloomington Hills golf course – really one-of-a-kind and leftover from the development of the area 15 to 20 years ago.