But in this case, since we will only be needing the property and tearing down the home what do we use to: 1. come up with comps  2. develop my repair estimates.My guess is that I need to find other older properties that have been bought, torn down and turned into multi-property homes in the area...Any help would be greatly appreciated!

I'm unable to remember who created it, so can't give the proper credit, but here's the link.

One of my favorite quotes by Jim Rohn is, "Your level of success will seldom exceed your level of personal development". 

Many go into real estate investing without doing the proper due-diligence, but you are quite the opposite.

Hang out here and join the local LL association, go to meetings and develop a network there and here.

Let me check on this with a developer.

I have been hounded on these issues the last year.. turned in  once and we have the developers license by a neighbor and we were doing a flip in Salem and inspector drove by..

If he has enough for 25% down on houses in California, he certainly has enough to spend an hour with a real estate attorney and have the attorney draw up the proper papers.

It sounds like you have properly covered yourself.

Keeping the local cops appraised of any developing situations is always wise.