In 2012 I also started investing in some spec home construction which has gone well so far. 2014 will kick off a large project (at least for me).

I see the bull market and have invested a bit in a dozen companies but the ETF's would certainly be a safer bet.

As many of you know, we are in Orange County, CA, and build new, spec construction.

You might call that agent's broker to ask about a better contract, I'd bet a multi is available through the Board of Realtors, if that broker doesn't usually have such business he may not stock 500 copies for the agents.I agree with Ned, begin with a basic meeting of the minds with the seller before sinking money into deeper negotiations and due diligence.$2500 may be steep for a boilerplate contract, but if he's representing you, doing the contract and taking you to closing (not closing but getting you there) that's cheap.

My goal for 2014 is to buy/renovate four to five homes and buy and hold at least two additional rental properties.Currently, I'm a full time Federal worker (I write contracts) but my roots are in construction.

I bet Vancouver is a bit chilly right now :)

So I lucked out he has the construction background and the licenses to help out on the buy and sell portion of the deal.

I don't know what city inspection issues you're concerned about, but if you're worried about code violations and/or illegal construction, make sure you get those concerns addressed during your home inspection contingency period.

If you are patient I bet you could do much better.

Any new construction close by?