.-- Bought land--dropped electric, developed spring, put in septic, created road (not yet rocked), procured older doublewide (not yet on property), got zoning clearance for soft set foundation on mobilehome.

Before that I ran a popular neighborhood blog where I would occasionally talk about real estate and development in a transitional neighborhood.

I know North Corona has been developed and it is a desirable area.

Hi@Perry Zheng - It's not just the redeveloping urban core but the new huge industrial developments going up east of town.  

I'm still considering going through with it as a 2-5 year or so hold since appreciation in the zip code and development is 14% in the last year (greater Seattle area) so long as the market doesn't turn, with the money invested, I'm getting 60% cash on cash return on my money just from appreciation alone.

What would you suggest they do to obtain the financing they need to upgrade and develop.

The point was simply to develop a useful metric that is close enough to plug in for assessing the deal.

A few sandwiches, reading a few recommended books,  and a genuine interest in investing led me to developing a great friendship, mentor and business partner. 

There are a TON of things to consider when developing land, ESPECIALLY if they have "oil tanks" as you mention.

I like small development plays now for STNL.