I am in the process of getting a bid for an architect, survey and soil testing.

The cost of 30 appraisals will be a bear. 

In short I would put the money into an interest bearing account and let it accumulate until you can pay cash for the next one.That way too if you run into any hard times you have a reserve.

You probably know this, but for others reading, the thing to bear in mind is that in only covers special assessments that are enacted due to a specific event. 

Also, bear in mind that getting construction permits isn't easy there and getting more and more difficult.

I just started escrow on a property in Big Bear City. 

Breed restrictions have zero bearing on the Fair Housing Act.

To the point that Virginia would likely pull my license if I advised clients to follow that path, as the risk of it turning out horribly for those who react emotionally during the next bear market would make that advice imprudent. 

But again, this will most likely only be done while you're under contract and chances are you'll bear the entire cost, so make sure you can/will close first or else you might have some dead deal costs there.

Lenders typically have no interest in taking on another property when they are underwriting a loan; especially not one on foreign soil.