The key with any partnership is well defined entrance and exit rules. 

I think its working really well.

Quote from @William Fuller: Land wholesaler here looking to connect with builders and developers in Atlanta, Florida, South Carolina, North Carolina, Virginia, and possibly other states as well. 

I wouldn't have any interest in buying something like this to hold since it would be so far negative cash flow wise on a monthly basis.

So I am assuming you were the lender on these properties and they did not manage them well and they went into foreclosure.

The hilly terrain is a main reason for this and you can't really see that on a map so knowing the areas is key.We have old housing stock as well so big things like plumbing and electrical can vary cost wise if they have or haven't been updated.

Well, how much is the lot for sale for?

Sounds like maybe equity skimming?

I might sell some units as well. 

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