@Nick Rutkowski I have not personally but know people who have land contracts and lease the land to large corporations to build to suit.

|As far as an inspection goes, Michael Bender is the most thorough inspector I've ever worked with and the only one I would use on my personal home.

I personally like to buy real estate that has A) excellent long-term prospects ie. area growth, commercial vibrancy, high housing demand, rising rental rates and B) positive or at least neutral cash flow.

I personally think this should be the default setting and should meet the requirements. 

Seems like your brother would be the person to ask.

I haven't spoken personally to either seller.

@Eric Johnson - If your rate is good, you could consider doing a "subject to" deal where the person buying gives you a cash infusion for the right to own one of those properties. 

As far as you saying you don't know if it's in an HOA, it likely is, given how you described it and that shouldn't be hard for you to figure out just by looking at a Google Earth map (sometimes the name of the community will appear), or pay a local person off Craigslist to go drive it and find out the community name, take pictures of the lot, etc. 

Have you ever noticed that people can send you a picture of themselves and then when you see them in person you think they look a way different?

@Mark WalkerTo piggy back off Logan's response, if the lender includes a partial release clause that imposes restrictions or penalties on property sales within the portfolio, this clause would also apply to refinances.