Draws cost around $150 per draw, so you may want to limit the number you do and work out a deal with the contractors to perform part of the work and get paid the balance from the draws.Hope this helps.Stephanie

@Shawn Davis While I'm just getting into the purchasing game as opposed to the selling game, I know lots of investors who have built their entire portfolios (very well performing portfolios) in this market.

He has tasked me with finding vacant lots however possible.

The usual course of affairs is the the heirs get the property at a step up and if they want to continue real estate investing they will either sell immediately with no tax or they will continue to hold for a period of time and then start performing 1031 exchanges themselves.As they get closer to an age for retirement or when they get tired of active real estate management they will position their portfolios from active to passively managed properties and philosophically from growth/appreciation properties to cashflow/maintenance properties. 

The CCR's for this specific POA allow the Board President to sign over real estate so long as the Special Meeting procedures occur.I figure if I get a Quit Claim then the County may not allow me to re-Plat as I may not have sufficient Title to perform this task, or the abandonment process, which means the RoW land would not be marketable to future buyers - rendering any investment in it useless.  

The deals that I've seen with no contingency are deals where there was a lot of competitive bidding for a desirable asset.There are at least 4 scenarios where an offer without any contingencies can make sense1- Very low earnest money with non performance penalty limited to earnest money2- Long future closing date so purchase contract acts as an option3- All due diligence completed prior to execution of purchase contract4- Willingness and ability to purchase all cashTax sales, foreclosure sales, final sale auctions are all examples of purchasing a property with no contingencies, other than perhaps good title - and at foreclosure sales even that's not a given!  

@Tyler Duffin Rentals in SanTan Valley can and do perform very well if they are in the correct location. 

If he's a project manager and he's not managing tasks, risk, budget, timelines, expectations, and communication, then he's basically not doing his one job.  

(I know these details because I work for a security company that's tasked with keeping an eye on the property from this point forward)

whenever you're driving somewhere or performing mundane tasks at home - https://www.biggerpockets.com/podcastStart examining your local market - get set up with a search that shows you all of the properties for sale in your area.Once you start to feel comfortable with the methods and terms used in REI, start to network with other investors in your area or on BP.