Great insurance agent, great realtor, great lender, great attorney, great title people great trades and others.A great realtor can save you time, money, frustrations, headaches, and keep you out of a lot of trouble. 

Will keep the thread updated!

I'd keep an eye out for future development and path of progress plays.  

the electronic keypad locks so don't have to deal with keysbut keep in mind batteries need to be changed like once a year

LOLOkay, buy the lien at a discount, some might go at ten cents on the dollar, keep it active, collect later with interest.

They want to keep the note long term but want to leverage or recapitalize using hypothecation (similar to #3 on Chris's list but with notes rather than homes). 

People who fail to keep good tenants and turn over every year, they lose. 

I would say for a lake front you may even want to keep it close to 70% because of possible holding time.

@Jon Ankenbauer you won't be able to keep the land separate from any future construction loan.

What percentage of gross revenue does an owner typically keep if they do employ a property manager?