Search Craigslist!

Hello,I'm not even sure what terms to search in here to find out if anyone has tried this before but here's the idea. 

But basically I would search the websites constantly for houses I thought fit me which a small criteria for me as I said above basically under 30k that rents above 600, I have always thought I would be willing to pay more for a rent ready one but never did pull the trigger on any.

You want to talk to your CPA first and foremost you don't want to get in a situation were your deemed a dealer and lose your cap gain tax advantages.that said a take down schedule like this is common in the industry.. although CA usually a million dollar property is not a lot.. vis a vi development ground.. and builder developers there usually stroke a check if needed.I suspect though if your going to sell it in phases.the land would be split into 3 phases and you deed out each phase as he pays if off.. but not individual lots that were your CPA can advise you on dealer status.its common though in these scnerios to have accerlated paymentso you have  3 phases  333k each... you sell first phase for  400k.. second phase for 400k last phase for 200k.. this way you get a premium if he fails to buy the rest of the dirtalso in your contract make SURE you demand that all work product engineering soils geo tech that type of stuff is once paid for your property as well.usually in vanilla real estate transaction on the west coast I don't recommend or see the need for a lawyer but in this case I would find a good real estate lawyer tell him these basic terms and things you need then let him prepare the contract.. hope that helps.. and assuming the dirt is in CA.. of course.

I've put my search on hold. 

Two together make about $4000 and the third is job searching and her parents are willing to co-sign. 

@Manish Shah I would go on loopnet and do a quick search for the exact location / asset type you're looking for.

I have started the search.

I'm confused about Capital Expenses, my CPA says to just put into Maintenance but when I search online I hear you should keep it in it's own area.

For example, you can be fully hands off and less involved (meaning less ROI) and have an engineer/architect, interior designer, construction/project manager and general contractor do everything for you.