At a 7 cap (conservative seeing as 48 new construction townhomes could almost be an institutional grade asset), price would be $8.6mm, giving a profit of $1.5mm on $2mm equity and a 27% IRR assuming construction takes around 18 months.Bottom line, for a buy and hold it doesn't make sense, building to sell a stabilized brand new asset does make sense.

When I did my property, just a small lot, I had a small excavator to dig stumps up and move the big rocks out but to actually grade the lot a bobcat was amazing.

Kinda scary.Some gal carries on a conversation with me too, doesn't understand much, but is well spoken and more entertaining than other ladies I know :)I'll download the lost phone thing later, very cool.It has a gizzmo to show angles, direction, a bubble level, grades in degrees......WTH?

More than likely you're not going to build a house for any less than $180k-200K all in and at that price you're only going to get basic builder grade everyone has the same thing low grade junk in the house.If you want to somewhat adhere to the 1% rule there are very few places and an even smaller pool of renters that could afford $1800-$2k + rent, on top of that, if you are renting in that spectrum you'd better have higher end finishes (granite or something similar - no basic builder grade stuff including light fixtures etc)You also need to factor in building in Maize or Bel Aire - while they may give you some incentives, (I figured most of them had sunsetted by now) you are going to pay much higher property taxes, (Bel Aire much higher water bills) and have special taxes that will eat into your cash flow and your personal finances as well.  

For Toilets - a good house brand is Pro Flow - Ferguson Enterprises sells them - they are probably one of the larger plumbing supply houses/chains in the US - they are primarily wholesale however have a retail side at their locations as well.My buddy is taking over his dads plumbing business (primarily new construction) and that is their standard builder grade toilet - they typically only work on high end houses and that's all they use with no problems unless someone wants an upgrade.  

Superpaint and/or Duration are good unless you need something to fill in cracks, then you can move into something more commercial-grade, like an elastomeric, block filler or even epoxy if that is the look you want but, careful, the thicker and more commercial the product, the tougher it is to get off if needed in the future and anything not water based, be prepared to toss out or clean with a chemical and not ever use it for a water based product again.  

Plumber also capped off the line going to the abandoned shed toilet and leveled out some improper grading around the house leftover from the remodel.  

High grade finishes in-line with existing neighborhood finishes.

Check your grading - soil should be graded away from foundation.  

We went all-out and bought a commercial grade Grayco sprayer.