So if youre planning on buying close to downtown, I would buy as close to downtown as possible, especially now because it is a buyers market.

I then negotiate with the borrower a plan for repayment or I foreclose.

I am of the belief that more time is better and allows better planning for both landlord and tenant. 

I am writing my business plan and I am trying to figure out how I will include in the renovation costs from a percentage of the purchase price, This is if I even have to because of the business type?

I am planning to buy SFH for long term rentals as my first investment in Austin,TX or Fresno,CA area.

I realize that this is likely not the answer that you were looking for; however, It's going to take  more time than you were planning and be harder than you thought. 

Any information is greatly appreciated.Are you looking to develop the entire land or you just looking for someone to assist with getting it through site plan approval then sell?

@Philip PreskenisSo is your plan to just buy & hold because it doesn't make sense to BRRRR because it's already in good condition? 

Hi Eric- I bought a condo in Jersey City last year, with plans to rent it out in a year or two after I move out.

This is a great question and one that unfortunately most people don't teach/educate on so there's very little information out there on how to become a developer and how to obtain the proper tools, resources, and team to execute your plan.