Here is my expected cost:Land: $475kAcquisition Costs (Environmental, Survey, Geotech, Traffic Study): $25kSoft Costs (Engineering, architect, impact fees, permit, legal, closing costs, taxes, interim interest): $300kSite Development Costs: (Earthwork, underground utilities, curb cuts, fencing, stormwater, paving, landscaping): $800k ($400k/acre)Subtotal before vertical costs: $1,600,000 ($80/SF). 

Close to Castlewood Canyon and Cherry Creek Trail.

Close to Seattle & Eastside providing good location for those working in those areas How did you find this deal and how did you negotiate it?

I'm open to bringing in approx $50K but think I'll need to bring in more to cover realtor/closing costs esp if I want it to avoid it being cash negative each month.

I am also open to hearing of any other good areas close to North Texas that I may be overlooking that have a good return.  

This essentially gives me an offer price that will allow me to receive at minimum, all of my money back after refinancing, excluding closing and holding costs.

And with their eyes on the future, they're even bringing virtual reality into the mix, promising a way to explore homes that's as close to stepping through the front door as you can get without leaving your couch.Yet, for all the sparkle of new technology, there's a serious side to this story, too.

Plan your down payment carefully, factoring in closing costs and potential renovations.

I'll just add on to make sure the land you buy doesn't have any fatal flaws before you close on it, i.e. make sure there are no weird things on title, i.e. easements, encroachments, and that all the utilities that you need are there, and it has legal access, etc.

There is also a way to Refinance on the 5th month to close on the 6th month and transition it into a investment property.