Here's a general overview:130 acres of land split between two parcelspreviously operated as a golf course until the owner passed away; it has since been shut downalready has a septic system for the club house/restaurant that has been maintenanced regularly (not sure how many homes it could sustain)land was evaluated by a developer, but was written off due to a lack of public water/sewagetownship told me (not in writing) that public sewage and water will likely go in within 5 yearsthe land is aesthetically pleasing with rolling hills (slight grade) and a few pondsOwnerswell off financially; want to sell but are in no hurry; they are considering a few optionswilling to work out flexible terms: owner finance, lease, lease optionrequire that in the event of a lease or payment delayed owner finance situation, that the taxes are coveredLocation2 minute ride to the highway11 minute drive to a Walmart Supercenter$93,000 median home sale priceone hour outside a major metro6.2% unemployment rateStartup Capital Required: Property taxes through-out development of first phase of MHs until income producing; then split profit, begin payments, etcEngineering plans for 50 homes (expandable to 200 based on demand)surveys, environmental assessments, permittingdesigned to eventually tie-in to public water and sewageConstruction of lots, roads, and foundationsPurchase of new homes to be sold offI believe there is a significant demand for a family friendly park, retirement community, or both. 

This will help me get the ball rolling in the right direction. 

In Toledo lolThere are other investors doing very well in this market also and it's a hidden gem in my opinionVery little competitionFind a small tertiary market and roll your sleeves upWork hard and do deals.Let others laugh but guess who has the last laugh?

Once tenants get in our rentals, it ceases to be an issue. 

While I've been awaiting the formation of the C-Corp my old employer has offered me a new position that I will accept but that may require me to begin work before the corporation is available to transfer into.Would there be any pitfalls I should be aware of if I roll my 401k into a traditional IRA and then roll the IRA into the qualified retirement plan being created in the corp?

Look at the rent roll and P&L for the last three years.

You can roll your investment from one QOF to another and still maintain compliance with the 10-year rule as long as you dispose of your entire interest in the QOF and roll it into another qualifying QOF within 180 days. 3.

The builders need to start building again .The SPEC builders were rolled up and sent packing .We all see the news SF have sky high prices but with silicon valley still cranking our high paying tech jobs that will keep prices firm .I watch the financial news all the time ,I play metals small play , I am making money again ye haw!

At this point, I'm not sure what my strategy will be: to invest locally or outside state lines; to buy and hold or fix and flip; to roll my own financing for the first few deal(s) or look to private investors; single family or multi-tenant etc.

FHA makes you pay for UFMIP which is a mortgage insurance premium that can be rolled into the loan instead of being paid at closing.