I live in a semi-rural area outside a medium-sized city, and I see a parcel for sale that would be great for a chain restaurant (a sit-down place). I have no interest or expertise in running or managing a restaurant,...

The local newspaper said Portland down 4% year over year but somebody on BP posted something saying down 1.6%.Our apartment market is on fire and large new developments are filling as fast as they can build them.We have among the lowest vacancies in the country with 3.1% in apartments.Cap rates went from 6.1% in 2008 to 6.8% in 2009 and 2010 and 6.86% for first half 2011.Housing prices down 28% from peak August 2007.

Your donations are always plowed right back into site development.3 - Join us at the BiggerPockets Real Estate Investing Summit 2012. 4 - Tell your friends about our site via email and your other social networks.5 - Share our articles, forum threads, and other content on social networks.6 - Be an advocate.

A reputable agent won't be trying to cheat you out of that good deal.

I have absolutely no experience in developing.

It is geat to hear you are focusing on developing a business plan, learning and networking before risking you hard earned money.

I have never been in a similar situation but I do know if you plan to continue selling properties on MLS you have to protect your reputation.

Don't like this one either.Other investors on here that have posted similar situations ended up selling for less because they tried this strategy.I would go for the second strategy and close it and move on.If comps start tanking in that development which you cannot completely control you need to find another area to rehab in.

Removing emotion from the equation will help you develop a more pragmatic approach.

Many developers in Houston deed restrict their developments to prohibit certain uses which could include MHs.