Public hearing soon, then use permit, then hire/pay more consultants (soils, structural, etc), then apply for building permit.  

They have been incredibly helpful and communicative, have even helped me with bids for topo and soil studies. the owner and his wife came out personally to my lot as part of the feasibility study and this was only $500 which is credited if I go with them.

Look for healthy calendars with lots of bookings peppered in. 

The town zoning will not allow us to separate out the cottage from the main home.The owner is 75 years old an his health is not great.

I have the entire financial prospectus, but firstly I wanted som initial feedback if anyone knows the area or have done similar deals.The developers are expecting a healthy 18% IRR.

The soil is very sandy and there is no automatic sprinkler system. 

You don't want a clay type soil that holds moisture, you want a sandy / gravely easy draining soil. 

Anytime you can net healthy profit and remove unknowns and liability that's a win in my book.

We have been working with a civil engineering firm to prepare the soils reports, assess zoning, etc, etc and a RE attorney.

With a business producing a healthy profit I started looking for properties to buy.