Martin and Account Closed, I'll definitely check out some of those meet ups!

I appreciate the feedback from everyone, and it has definitely been an eye opener as far as the realization that there are times when developing can be a losing proposition. 

With a regular SFH, I would definitely have a photo of the outside of the home as the first and primary photo.  

I love the podcasts and the site, definitely got me motivated to think bigger!

I will definitely check these out

I will definitely use an agent for the next couple buys, and indefinitely for sales, but I'm looking to get more independent on the buy side.

The great aspect for me is that there would be no land cost basis and I would get the experience managing the flip (I have never done a flip yet).I believe there is definitely potential in this deal but the issue is that I do not own the lot. 1) Is there a way for me to get financing on such a deal (hard cost around 500 k) say if I had a JV agreement with him but did not own the lot? 

Let me know :) Brendon, I appreciate you reaching out :)I would appreciate your knowledge definitely !!!

But the numbers definitely dont make sense if you are trying to get some cashflow.So, I settled with a B class.

Don't go the restaurant path.