That's about the difference, as far as I know.I pledge: To strive to be honorable and to abide by the Golden Rule;To strive to serve well my community, and through it, my country;To abide by the REALTORS'® Code of Ethics and to strive to conform my conduct to its aspirational ideals;To act honestly in all real estate dealings;To protect the individual right of real estate ownership and to widen the opportunity to enjoy it;To seek better to represent my clients by building my knowledge and competence.

You can always go back and negotiate with the seller for an extension on the close. 

I can (and sometimes do) speak extensively about investing in real estate; but I know that I can sometimes come on a little strong when it comes to things I’m passionate about.

In my experience, PM has shorter timelines and higher extension fees. 

I’m conducting my due diligence.  

Caveat: this will probably require an extension, as real estate experts may not have time to review your return before 4/15.

The Closing Date on the property should be tied to a point in time that has the property and project you envision fully entitled in a manner that will allow for the development and operation of the project AND when you have secured 100% of the debt and equity capital needed to develop your project.Your 3rd priority should be using the time provided in the purchase contract (from mutual execution of the contract to closing) to conduct all of the due diligence activities cited in the critical path and any others you may encounter during the DD process.After Closing, your 4th priority should be to develop the horizontal improvements (roads & utilities) to produce finished lots and to then sell the lots to 3rd parties and use those funds to cover all or part of the cost to build "your dream project".If you are interested in taking on Priority 1 (critical path and budget) DM me and I will send you an Xcel worksheet that can get you started.

Obviously I’ll start reading book, networking and doing extensive research before diving out.Financing?

So he can change his mind, or, change the terms or make you sign an extension, as long as he gives you 30 day notice.  

Remember, that's 15% of total GSR, which includes your unit, not just the tenant's.If you don't need extensive renovations, I would recommend looking into other low-down payment mortgage options.