Once I had money at risk, I found that it is more important to be committed to seeing the project through, rather than bailing out because an unforeseen obstacle presented itself.

But the bank financing this mortgage had the appraisal and wanted our commitment PRIOR to approval of the loan.

While I commend people on having the commitment and passion to peruse a different path, but there needs to be some forethought as opposed to firing from the hip.

Including more than one may damage your offer because the agent may get the impression you are not committed or haven’t gone far enough down the process.

Do not do a mailer because you aren’t sure it will work or want to commit to the time it takes.

Sounds like they are probably committing a bit of Homestead Fraud for the tax break. 

Convince good tenants to commit to longer term leases.So in the fall of 2016 I took the plunge and closed on this massive purchase !!!

If you do not get  lease executed with a forward commitment or rents are less than you thought for the project then you cancel the land agreement and not close on it or renegotiate the land costs.Last you want to do is put down a big chunk of money for owner finance and not have the tenants lined up yet.

Most sponsors/syndicators will want a longer term commitment.

If the spouse is not committed, it will fail and I don't want to get in between.