They do understand the process would involve (if they continue to reside in the rental unit) applicants walking through to view the place.Security deposits would be used to pay rent if the unit is abandoned.

Pulling credit, applications etc? 

So I have been finishing up this excellent book on behavioural economics called 'Predictably Irrational' and I highly recommend it if you haven't read it yet as I believe it to have excellent application to investors!

for giving me the run around and pretty much taking so long on my application.

So for those of you reading and not participating here is the mistake I made I encourage you not to...Mistake #1I assumed that my bank offered FHA loans so I went online and filled out the application to see what I could be approved for and after they put a hard credit inquiry on my credit report I found out they don't offer FHA loans.Can only assume I will make many more mistakes along the way, thank god for BiggerPockets to help reduce them!

Of course this isn't as applicable for IRA investments made in housing flips, but for those individuals investing in larger multifamily or commercial buy and hold RE investments, SDIRAs can help you gain exposure to direct real estate and realize superior cash flow returns relative to most other passive investments. 

I would go through your entire application verification process and make a decision based on your findings.

I simply put down 20% as the down payment with a 30 years mortgage to close the dealI spent a weekend to clean it up, lease it out, and multiple application came in within the 1st week on market. 

Financially though, I think that multi-units have a lot more going for them.Tom - Do you think that Brandon Turner's "50% Rule of thumb" is applicable to Nanaimo?

So, ultimately the value of this land depends on the commercial application.