Big developers do this with land all the time, and I've never heard about any of them being prosecuted either.I'm just trying to familiarize myself with the laws and risks, so any references would be appreciated!

I wouldn't call it a great deal, but here are the metrics nonetheless:Purchase price: $435k reduced by seller credit of $15k for net $420kDown Payment: $15,225Monthly Rents: $1,025 1-bed + $995 1-bed + $675 studio (hasn't been raised in 15 years) + $650 (bedroom in my unit) = $3,345.  

I was excited last month to open my copy of The Real Deal and find that I was listed as one of the seven most active developers in North Shore Staten Island.

You should develop a business plan before you start flipping to decide how best to access these, and more, sources of capital. 

As a first-time homebuyer with a long-term plan of real estate development, I was wondering if anyone had any ideas on how I could obtain a USDA guaranteed rural development loan even though the current property does not have a home on it.

Hi @Tony KuI get a few REO's in my inbox every week and most of the time, they're in areas I personally wouldn't invest in (not near centers of economic development/growth, etc)."

The apartments had about 29% vacancy, but that is largely due to a studio in the basement that has not been leased since at least 2013 (no in unit bathroom, kitchenette only). 

I'm a software developer here in Chicago, and my wife (@etesla) is a stay-at-home-mom.

I'd like to figure out how we might develop these. 

I'm  in my early 30s, and an experienced software developer currently looking for passive income opportunities, but I would like to eventually move into real estate investment full time when I get into my forties.