He should have made it clear to the insurance company that he will not be living there, adding that the property will be a construction site he intends to complete and flip. 

If they take too long you could lose the contract.2. 

You can look on craigslists and apartment sites to get an idea on rent comps.  

Am I the first one on this site to pull the trigger?

There are three costs you must be very familiar with LandSoft (carrying costs, entitlements, impact fees, association if applicable, maintenance, etc)Hard (home construction as well as site construction)Have done numerous MF and SF developments. 

You could have plead ignorance, but now that you know, it would be fraud and you absolutely will lose this battle....you got the money, the buyer got nothing.  

I have been reading every real estate book, listening to podcasts, and learning for years while telling myself I justed don't know enough, don't have enough saved, or have too much to lose to get out on the edge and take a chance in investing.

Be sure to check out all the areas of the site.

There is a park manager that would live on-site to maintain the park and is willing to stay on and help expansion if necessary.Half of our team is not sure that we should purchase since it is in a small city with little plan for growth.

Have you done a member search on this site for attorneys @Cheryl Wilson?