But even that is merely a self fulfilling prophecy because you will tend to do business with people like you on projects that you believe in.I would recommend changing the number not for voodoo's sake, but to eliminate the chance that it could negatively impact what you are trying to do.We have enough problems.

Can't wait until mine leave the house and my 50 gal becomes a tankless.Bill, whats the negative of having teens in a home with a tankless??

I didn't get any negative feedback but also have not gotten much interest in my project on Ifunding.

Omar - don't forget the political aspects of real estate.In respect to development (or re-development), we can only imagine how the economics of a new tract built in a tough area may have played out.Politician needs to repay a favor to a supporter, who just happens to be a developer.Developer sees an opportunity to (maybe) change a negative economic trend in that community.Developer builds one less profitable project so that a much more profitable one can be approved in another community.Bank offers low, subsidized financing due to local or national programs that exist at the time.Just because it doesn't (or didn't) make sense, doesn't mean it was unprofitable.

Can you think of any obstacles or negatives with this approach?

He says that the "potential" negatives far outweigh the short term positives...

Yes;  at times is may seem as though, despite all our efforts, we may experience various negative events or emotions in our lives;  despair, anxiety, fear, apathy, mistrust, anger, or whatever.  

This land is in an urban area of a fairly big city but I do not know the statistics and the neighborhood in the area.

Statistically on every foreclosure the banks lose about 30% of the loan value. 

I do not watch the news because it's incredibly negative, I don't listen to or read negative things, as far as I know there is no bad in the world and everyone is really nice.