While we were ordering new tiles, the ceiling developed a wet spot below where the shower sits, and we learned that he had knocked a hole in a pipe and just closed it up... 

They will code the property, the category it belongs to, and pass that to the accounting department.If you hire a general bookkeeper, you might see that problem of coding it completely wrong versus someone that focuses mainly on real estate.To give you a bit of an insight, I am a developmental controller and I am currently handling over $200 Million in transactions for residential/developments. 

The issue you'll run into is seasoning (how long you've owned it). 

We flip and develop new in Austin primarily because of the high price points. 

Very important - please include what your land is zoned for and whether it is out in the country or within city limits.I want to know what raw land is worth typically in areas that won't be developed for a long period of time and if buying near a city has any pros/cons.All input is welcome.

I am purchasing an off market piece of developed land.

Their thought is risk is low even if property is off by 20% we still get made whole on the loan with a default.I know specific commercial retail developers who are lazy and love buyers putting 50% down because they do not have to hardly show any due diligence to the buyers lender and it closes.  

Steady population growth, solid local economy, developing central business district-- all new downtown convention center coming soon. 

Is there any other route to starting to develop my own trusted network of contractors as I start out here?

What does the business and business development landscapes look like?