Thanks.....I already own land to build another spec home, would I be able to roll it over if I built on that land?

I decided to look into pre-foreclosures.

@Chris Johnson, Trying to buy two or three properties in the time frame required to roll-over a 1031 is going to be a huge challenge.

Jabbar Thomas were you targeting pre foreclosures in this instance?

Also if you google pre-foreclosure letter and look at images you should get some ideas.  

PUB  is simply as stated a pre planned development.. it usually has an HOA.. and very frequently they are created to increase normal density. 

Now if you are doing complex creative owner financing, wraps, need clever clauses, encounter title issues, doing messy deals, or are buying commercial property, etc, then you may want to pre-meet legal and other transaction professionals.

I've already got pre-approved with Quicken but they want 25% down...which could be close to 26K out of pocket at closing. 

It always helps to test drive a situation first and is important you have all your go to's vetted and ready to roll when you are.

Lots of inheritance landlords here who never raise their rent and don't want to manage their properties, but will never sell because the homes are paid off, in a family trust, and they're paying minimal property taxes (CA prop 31 cap).The plan: - I offer to sign a 2-year lease, pre-paying one year of rent up front, the rest divvied out monthly over two years.