within 18 months a developer was doing a land assemblage and scooped up our parcel for 915k..

Utter blasphemy, only "unsophisticated" investors buy in cash.An experienced investor once told me "why use my cash, when I could just default on OPM" I know its not popular thought on BP.. and of course ramp up requires it unless you inherit a ton of dough but as we age out I sure like free and clear and no debt.. just the hassle factor of having to make payments :)

If the developer can do better than 35%, then the deal becomes even more profitable for them.

Managing 17 shopping centers and selecting sites for new developments is no small feat—kudos to you!

When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

Credit is a factor as bad credit may limit options, or may have the lender require you to put 10 or 20 years of taxes and insurance into escrow. 

I recommend familiarizing yourself with your local landlord and tenant laws, while also developing your own "screening criteria."

When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

I am a Real Estate agent, investor and developer in central Houston, feel free to reach out with any questions. - Chris Kersey 

This property will require a pool to fully optimize its earning potential, and I've already factored that into my calculations.