My strategy is to buy and hold.

I am looking for more traditional, conservative investments. 

If you find the profit spread is lean, you might want to hold off on building, particularly if you feel the land is located in an appreciating market.

Our Privateinvestors will fund the remaining 10% of the purchase price, the first portionof the rehab (to be drawn later from the HML), and the holding costs.

Under current rules (assuming you dad’s estate is not over something like $12m), if your dad holds the property to death and you inherit the property, there is a step up gain and no one pays taxes on those gains. 

@Jay Hinrichs  The dump trailers hold their value . and its so nice to back up at the landfill right next to a guy hand unloading shingles , open the gate and push a button .

If you're planning to hold for 10+ years, obviously that's less of a concern.  

@Victor SolomonUsually not recommended to hold title to a property in a S Corp. 

If your strategy is buy-and-hold with long-term appreciation and eventual cash flow, you'll be alright.

Hi Deepak, North West is a great area to buy and hold since that area appreciates better than the south/west areas of San Antonio.