Good luck with your investment! 

Quote from @Sam Epperson: let's say I come to an agreement with the seller for them to finance some of the deal. let's also pretend the seller owns it with no debt, and we agree to 5% down, 5% rate, and 10 year balloon. how are we drafting this legal document?

We used commercial financing of a 10 year not with a 20 year amortization schedule.

@Abigail King  I started with a seller finance, $80k, 10% down ($8K) + $1k in closing costs.Put about $40k in rehab in it. 

My total expense ratio on each property I own ranges anywhere from 40%-50% annually, but I also self-manage and am not a slumlord (I am pro-active with maintenance, not reactive).

Start with BiggerPockets Ultimate Beginners Guide (free).

Land Entitlement is one of the riskiest Real Estate investments for several reasons:1) High Upfront Costs with No Guarantees: We spend tens of thousands of dollars on due diligence to ensure the property is suitable for development.

Also, I'm not sure if you are demoing an existing structure, if the structure is freestanding, etc, but this will obviously greatly affect your overall budget.For our project, most of the material prices are in line with expectations, but where we've been shocked with recent increases is the soft cost. 

The Left must resist the urge to “help” with short-sighted, counter-productive policies like rent control.

We’re focused on building a strong network in San Antonio and its surrounding areas since our goal is to acquire two properties per year to enhance our portfolio.We’ll be in San Antonio next week or possibly the week after and would love to connect with local professionals—property managers, contractors, investors, lenders, and others.