Raw RM land flat may be worth $8,000-12,000 door-  Fully entitled could push this to up, fully entitled with approved plans could push this up to $16k-$24,000 per door.  

My parents are planning on selling their investment home (SFR) to buy another home in Hawaii (i.e. 1031).

You are probably throwing your money away if you are planning to hire a "guru".

@Kenneth Tiedemann you can use personal account, just be sure to follow your state and local laws about security deposits.If you're parents are living in the home with the tenants, then they are also exempt from most Fair Housing requirements, but you should look into them anyways.You'll want a good lease to protect your parents and to be able to evict if/when necessary.Check their home insurance policy as it probably needs at least a rider to cover renting.

I know a lot of people say there are insurance issues and the tenant can sue for things if it's not permitted but if I was the one occupying it and renting out the main house would that be better? 

Based on my calculations and preliminary research, I have found that the Bay Area offers good returns from developing land, although acquiring level land and obtaining permits can be challenging.I have a few questions:1) Is it recommended to purchase a complete house plan from online sources like ePlans or similar websites and then customize the architectural design before submitting it to the municipality?

They plan to sublease to professionals like traveling nurses (2-5 months) and short-term families (we're near Disneyland).

I'm interested in working with insurance companies on housing displaced families.

We are now being told that there are delays due to septic approval and our 4 bedroom/2 bath plan has to be changed to 3 bedrooms plus a den.

I'm moving to Memphis and planning to invest there.