That is always the best bet when its an option.

Probably your best bet is to talk to a lender and see what they consider proof of funds.

Most experts also feel that if you turn a shovel after entitlements that involves you creating inventory and turns you into a developer. 

., Being involved in construction myself, I can tell you I have answered many questions.

I am involved in a lot of discussions in the forums regarding the different materials used in rental unit rehabs.

There’s a good bet that there’s deferred maintenance so you have to think about what you’ll need per unit.

Another option is going the turnkey route, where although you will be a long-distance landlord your level of involvement will still be minimal, as the turnkey company and the property manager handle most of the daily hassles. 

Empathize with Bill and the seller's position and suggest that if you can't get back the funds you at least want to help the seller's case in court, work out some sort of deal, talk about a master lease option, basically anything that does not involve the idea of litigation. 

Your best bet is counting on capital appreciation.

No, just 25 yrs of experience being involved in literally thousands of deals and watching realtors do things the wrong way or take shortcuts, loosing deal after deal for my borrowers is what has taught me what works best.Unfortunately, down here in FL, everybody and their mother has had or has a real estate lic. and too many think or lead their clients to think they know a lot more than they really do.