This is not aligned with the owners interests and frustration is bound to ensue on the owner.There is a big opportunity for aligning owner and PM interests in this business and can make for a great partnership but a transformation needs to happen first. 

We enjoy transforming investments like this and seeing how this real estate houses improve after upgrading every corner of them!

We enjoy transforming investments like this and seeing how this real estate houses improve after upgrading every corner of them!

It was a deal I was interested in because of area and I knew it was going to be a hot seller once transformed!

This is a small project and should prove attractive to several banks if you are a qualified borrower.From a feasibility standpoint the first thing is to check with the city or county to determine what is required for all approvals including site plan and building permits, proffers, water/sewer tap fees, bonding requirements, inspections and CO process and time frame for all approvals.You mentioned utilities are in place but you need to need to check with the utility companies and get an idea of requirements to connect to the water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues etc.Check to see if you have to install any manholes, fire hydrants, curb, gutter, sidewalks, street signs, street lighting any specific street design or access requirements,.Check DOT requirements for access, stop lights and permits, traffic studiesDWQ requirements for permits, permit fees, time framesThis is a broad overview of the process and your civil engineer can handle all of this but it's good for you to know exactly what's required.

Here is a quick high level summary of things you need to consider before you close the land.Check with the city or county to determine what is required for all approvals including site plan and building permits, proffers, water/sewer tap fees, bonding requirements, inspections and CO process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.Check to see if you have to install any manholes, fire hydrants, curb, gutter, sidewalks, street signs, street lighting any specific street design or access requirements,.Check DOT requirements for access, stop lights and permits, traffic studiesDWQ requirements for permits, permit fees, time framesThis is a broad overview of the process and your civil engineer can handle all of this but it's good for you to know exactly what's required.

How will you play with bank money , fixer-upper, cash flow , equity value transformation and market environment to snowball the profit ?

The industry needs a transformation, with fewer brokerages and fewer agents working for lower fees but higher volume, where total cost to sell including commissions falls to 3-5% total for a median-priced home, whether it's percentage or flat fee. 

You also need to check with the utility companies and get cost estimates from them for availability, fees, hookup charges, transformer and power line/power pole locations or relocation requirements, water, sewer,gas, cable etcYou will need ball park cost estimates from site work contractors for site work, roads, installation of utility lines etc.

One thing I would suggest is to look at the zoning laws and permits needed to do this transformation.