Learn with me, help me, will try and update this post as I go, hopefully to not the end that so many do (including myself) of falling off never actually building or buying. 

Is this the same with other real estate agents too?

Would you consider this remnant?

If this was a million dollar piece of land, thats an issue. 

I am not familiar with this at all.

However, if I take out a construction loan later down the road, say 5 years, I probably am not going to have more than $10,000 to put on that loan so I’m not sure if this is the best route.

For people reading this - I don’t know the sponsor and this is a general comment but if a sponsor had issues reporting to their customers that should be a giant red flag.

As a new member of this vibrant community, I’m thrilled to share insights, gain knowledge, and connect with fellow real estate enthusiasts!

In multi-unit buildings, I just have my maintenance team toss this stuff in the basement in maintenance room where we can deal with it later. 

Not an expert on this but it appears YES this would be subject to UBIT and a good amount (70%).