The association included $50,000 annually for attorney fees and used that much or more every year primarily suing fellow owners for stupid things.In all of my familiy's history, after all the real estate developments, tranactions and tax planning, we have never collectively come close to spending $50,000 spanning more than 90 years.

Determine the ARV for a finished home comparable to what you'll buildSubtract selling costsSubtract construction costsSubtract land development costsSubtract acquisition costsSubtract carry costsSubtract your desired revenue= property value for you.Comps are irrelevant in land buys UNLESS your property valuation is greater than a comparable property.

We mostly develop new (SFR, and small commercial office condo projects which are sold to owner/users or investors (we handle lease up for investors if necessary).

Rather than beat the ROBS question to death, why not develop some strategies that would allow the beginning investor to get access to his money in the simplest fashion, then profit immediately from it.IMHO, kill the idea of ROBS and do something with your funds that make you money, both inside and outside your 401K, immediately.

I own 3 properties in the Nashville area, and 2 of them are rentals in the same condo development.

Developer/builders can double their money in a year with the right set of circumstances.

The relationships you develop are just as important as choosing the market that fits your strategy.David has made some observations about the zip code you chose.Any Particular reason you chose this zip and this property?

I've been involved in municpal planning as well as non-profit development.

Another was for development.

In other times return can be much lower than developed land investments.