The "city fathers" will want developers with experience, proven track records, capital backing and commitments, all too often someone tries to build a shopping center or residential neighborhood and the run out of steam and can't finish the project, they don't want failed projects for various economic and social reasons.Generally, you'll find local developers who are "favored" in doing certain types of projects, in reality you'll need to be a bird-dog for them, to be good at that, just like the landlord mentioned, you need to understand costing of developments, time lines and other facets of development.

So, while we might have been able to save a little on the rehab costs if we shopped contractors and managed it ourselves, the deal still swims.  

Bill hit it on the head, but it in this instance I would shop around and see if you can find anything better then that.  

For conventional mortgages, is it recommended to shop around with different lenders to try and get a better interest rate or do they all pretty much offer the same rates?

If I do, I will NEVER shop at Lowes again.  

Is anyone planning to do a little tax sale shopping on the 10th?  

You'd have to find a shop that is a dealer for that manufacturer. 

I also have a property Managment company, and developed a one-stop-shop for my investor clients.

Desirable suburbs with excellent schools, where the big employers are, where big shopping and dining is, etc. 

I then shopped it around and found someone to lend me the funds for purchase and rehab.