The reason this lot doesn't sell, in my opinion, is that it fronts to a major road and access is not easy.I have found the owner through the assessor's office and am thinking of making a very low-ball offer on the land. 

Is there a way I could estimate the project cost on my own so I know the tough ball park?

Account ClosedAppreciate the feedback bro I have kept track of all expenses and receipts but when it came to 1099 the people I had working for me I dropped the ball on that but going forward I know I gotta dig more and learn about how to operate my business far as how to pay contractors for tax purposes it's a learning process but i'm sure I'll get a handle on it.

When I go to exercise the option after the alotted time period, do I seek fixed rate bank financing on the appraised amount, which the bank will lend 70% on, and then use that to pay off option and keep any remaining money so that it effectively becomes no money down other than the option fee and any attorney fees needed to draw up the MLO?

So I read over your post and I feel like there are quite a few options you can exercise.

it sounds like you are behind the 8 ball a little bit when it comes to starting capital.

Jane Ball of Be Home Realty.

Looking at LP+Promote level performance indicators might be an interesting exercise, but it doesn't produce much value to me because I'm not doing it to compare one investment option versus another, I'd be doing it just to see how high my IRR or multiple is. 

We are taking our renovation experience, our project management experience, and our BIC license and going to have a ball!  

Check with your lender and they can give you a ball park estimate.