Just another tool in my toolbox.that strategy has been taught forever by guru's and again great in theory.. but can be a total mess.. original seller still on the mortgage and especially in Texas were the lender can get a deficiency judgment against a defaulted borrower.. your  in title. and now you have given title or contract for deed to yet another party.. these deals are usually very skinny delta deals..

My question is whether anyone here has experience working on developing land and what's the best way to go about finding land and analyzing it for development purposes.I've spoken with him about the possibility of buying a lot in Nashville and building an HPR - 2 tall and skinnies.

Been a skinny couple years, though. 

Here's the standard skinny on NNN.  

There is profit to be made using investor builders but after loan fees etc it gets skinny and is often lower then a normal rehab flip.

Hard Pass all day long given skinny to no profit .. person you just met and large dollars involved.

Thank you Matt:I work a system I developed years ago it is called "Control and Roll" power prospecting for houses and commercial properties - controlling with a contract of sale (I call it our skinny contract), advertising it for 3 weeks and sell it in front of the property by public auction.This is the highest leverage in the world - SELLING REAL ESTATE THAT YOU DON'T OWN!

IF you are going to use the property as a rental you'll need to get a license, pay the Cities Business privilege tax, HAVE FUN dealing with L+I and don't forget to get the skinny on the increase in property taxes that has been going on due to reassessment.  

Put a little skinny in there for yourself.

But $100 in net profit/unit is a pretty skinny margin in my book.