Would that even be a smart thing to do or is it totally stupid?

So if you TOTAL project cost, land + construction, is 10mm if only using the land it would need to be worth at least 3.5mm.

@Gilbert Dominguez totally agree with you.

Hey its nice to work with family and friends but when its your money on the line you need a profession that knows that particular area well and has totally got your back.Best of luck. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Your total gross earnings from the investment will be 120 X $24,000.00 = $2,880,000.00You will be receiving $24,000.00 per month during months 37 thru 144 until your total gains = $2,880,000.00 plenty of time for you and your wife to do other real estate deals and also plenty of money to take good care of Fil and yourselves as well. 

And I totally think you should be the one to create a BiggerPockets intro song for the @Brandon Turner podcast. :-)

For example, they may let you cash out 70% of the total equity in your properties, and create a single loan.

There was money donated from lot owners in a fund and they chose to pay off two lot owners debt in order to keep them out of foreclosure (total $4000).

Are you willing to bet you would win that court case if you do something different?