The land alone in those areas is 500k to 1 million an an acre before building the structure and profit rolled in on resale for a developer to sell to an end buyer.

Another development, he hasn't replied to me since this Wednesday and today sent me a text with another story apologizing for not responding and decided to send the $50 late fee (which I received).  

If my research is of any indication, the owner might be looking to turn this land into a development site for a condo.

I'd like to be an investor/developer in the future and CRE seems like a great place to learn while you earn.

However, there are a lot of hotels looking to build in and near downtown Waco and you best believe they will start lobbying and pushing their weight around to get STRs banned or regulated as much as possible when they start moving forward with development.

The Seller's agent knew the Seller ahead of time and has developed a working relationship with the Seller.

When searching for the right contractor for your investment project, what questions do you ask these prospective GC's?

@John Gooch: from one software developer to another, it absolutely IS possible to do real estate with a FT job. 

I have a property across the street from where they just bought some land, and I'm interested in finding out how they're going to develop the land.

Would also love to develop a network here as well!