Contrary to popular assumption, the area by the lake is NOT desirable (just Google Lake Elsinore, there are always water issues).

I'd give them a $25 gift card to a popular restaurant for their inconvenience, and thank them for their patience.

I am in the process of narrowing down markets which not only cash-flow positive (1% rule), but also markets which try to adhere to the 7 factors for successful investing; such as population and job growth, diversified economy, landlord and business friendly and in a rising market, therefore giving appreciation potential (and yes I know thats basically like winning the lotto but if I can even cover most of the those factors then I will be happy).

The land is 8.5 acres near a small town, that is near a popular ski area.

And they even spent some money on capex to make it better looking.But even then, small town Malls are just not a popular place to shop anymore and then their Sears went out and then their Toys r US closed.

Many are well represented by sellers & turnkey operators here on BiggerPockets (myself included) The most popular markets are ClevelandToledoMemphisBirminghamKCIndyDetroitEach of these markets is popular with turnkey investors because of the low barrier to entry, high rental demand & high rent to price ratio.

I think it is a genuine scenario, if the intention was to deposit a check that would bounce, this question will not even arise!

Interest Rate: 5.75%Repayment Schedule: 20 yearsMaturity/Term: 5 yearsPrepayment penalty: 5,4,3,2,1Index Value FHLB plus a 2.5% margin. 20% down paymentThis doesn't seem terrible however, as we go into a rising rate environment I am a little hesitant on the ARM every 5 years.

Help them locate popular house plans to build, negotiate with owners of lots to market to be built homes on them, and list to be built homes.

If the property is in good shape, I doubt it every make sense (excluding some type of basement conversions that are popular in the north).