It is very preliminary, and I just want to get people's thoughts and experiences to see if it something worth pursuing.

This is a great place to learn and further investigate investing in real estate.

I could give a few specific pointers on some of the municipalities in Utah.Our lot was already zoned for multi-family, so we had to turn in a preliminary condo plat and proposed association rules, and then just turn in the building permit application drawings.

If Plastic I would investigate further.

@Marc Warren, this is a great time to research potential investment providers, learn more about their companies, and investigate track records. 

I would also investigate the principals involved in the current Qualified Intermediary to determine if they have been part of any prior QI failures (there are some around). 

I'm a newbie in the very beginning stages of my REI career and investigating all I can while I read books and learn from others.Thanks!

This was also a huge red flag and we took a pass on them after further investigation. 

Careful investigation of credit, criminal, and rental history during the application process is the best way to minimize the risks of any tenant placement.

I wont recommend nor abuse this option, all my other investigation of the property had already been completed.