Keep in mind that FHA loans are subject to the sustainability test. 

You will need to negotiate any added value for improvements.Using the CASH program may help you fill vacant lots - they will need to evaluate the park and your ability to personally guarantee such a large number of homes.You need to run a test advertisement to get a handle on demand for homes.  

Notaries in CA take a 6-hour course, and pass a relatively easy test.

I'm in my third decade as a real estate investor and I've found time and time again that those who have a full time career or retirement, especially if you have family's and hobbies, don't have adequate time to actively/intensely manage most real estate deals.

If you doubt this, test it for yourself - go to a subdivision that you know is higher end and see who's sitting on porch stoops or holding up street lamps.

Intent goes a long way in lending and if you truly intended to move in and there were unforeseen circumstances or anything beyond your control, it should pass the smell test and allow you to break the rule for the time being until the property is livable. 

A good quality structure built by a Master Builder will stand the test of time, vs. a scrap of paper, or an entry in a data base, based on how much the next person will pay for it.You can add value to structure and collect rents even in the bad times.Where people run into trouble is when they borrow too heavily, and the bank takes the "Still Valuable" asset from them.With a stock, it's a roulette wheel gamble, as to how much it will be worth at any given time. 

I guess this will be a test case before the community.

For example, if there is a bunch of demand for apartments and a lack of supply, you might want to build an apartment building, etc.If you interested in testing you real estate development knowledge, this quiz is kind of fun:https://www.developbuildings.c...

Infilling communities is profitable but is also the slowest, capital intense, and risky way to add value.