I don't want to lose a deal because I am trying to get an extra 10K off but just wanted your thoughts. 

Heres what i did, and i could have took the long way and i havent had any deals yet but ill break down my trial and error and the method i feel will work best for me.first, i searched zillow for homes that are selling for low cost, found the owners and mailed yellow letters of course-the problem with this is, a lot of these homes still have loans on them and probably bank owned already, the owner still lives there, theres already a realtor on the job, just way too many obstacles, i dont expect to get any calls from those letters but you have to start somewhere.next, i started searching on auction sites for homes that did not go up for auction yet or the auction expired-again, the problem with this is the homes are 9/10 bank owned. while some of them are foreclosures theres still extra loops to jump through.I considered buying lists of vacant homes and stuff but i am the most frugal person you will ever meet lol, its not that i cant afford to buy a list, its just that i know theres a different way and plus whoever made those list had to have someone else generating that list for them.

I've been reading articles and books for the past few weeks and I have to admit I'm a little afraid and I keep feeling like I need a spreadsheet of every little detail/step that goes into flipping a house.

They want a chunk of cash to buy a beach house or something but they also like to hold a smallish note for extra income.

That can work.I'm wondering if you can somehow creatively do this deal where you pay an extra $5000 for this new condo, but have $5000 held back by the seller for you to do some kind of upgrades, but then just use the $5000 to pay down your original condo so you can get to 80% LTV in order to drop the PMI insurance and refinance at a more realistic rate.Is that HOA monthly? 

Normal additions like what you're trying to get quotes are from 120-200/sf out the door, at 200/sf, you're in the high part, that's 80k, allowances for extra ordinary fixtures shouldn't be above 5k.

Here are some of details...5 Acres LotIn middle of other Residential DevelopmentLand Developer is interested in development, looking for investor to buyGrowing area in DFW

I think what I've mentioned are all things that will help you "learn" your market but I know there's a lot more that can be done and a lot more detailed and exact info to really learn your market as well as more effective ways so I'm looking forward to reading more responses from the other pro's much smarter than me.

Send me a DM and I can get you the details.

Can you give any more details on the contract?