And of course, condotels are popular, but I don't see any that come close to having a cash flow.There is lots of inventory right now, but the time on market is rising, while the prices are slowing over what the past several years have shown.There are good stats available on the local MLS site at hicentral.The key to this market is have your financing nailed down before you waste a lot of time looking.

Evan nailed it!

I think Jake hit the nail on the head -- a combination works best.  

I think I have it nailed down to two potential strategies and I'd like to get some input/advice from people with more experience and market knowledge than I have.

@Kyle Deutschmann hit the nail on the head.

I have yet to nail down a venue but will do that first of the week and get it officially set up. 

If they are good they will find out who you are anyway and if they resent you for cutting them out, they may try to nail you to wall. 

I don't have my exact market nailed down yet but I'm thinking outside of Asheville.

I am in a city with a housing cap on SFHs so we have a very strong market and I just locked one of these up. 

that about nails it.. the OP thought process won't work in the states.. you can't pre sell land that is not platted.. you can take reservations but you can't take their money.. now you can and we do get some non refundable EM from the national builders.. but that might just be up to 10% or so and that is after improvement milestones have been met.Bottom line.. cash intensive.. time intensive.. some jurisdictions like maybe Texas you could get land development done in a year.. but on the west coast 18 months to forever is the time lines.