To build or not to build
I own 8 lots that are 30 x 90 and make up 1 big lot that is 240 x180. The property does not have road access but has a right of way to build a road to the property. If I build a full road to the property, I would have to build 240 feet before I would reach the corner of my lot. I have never built a house before but am a little familiar with the construction process. I bought a DSLD home before they built it and watched them construct it and live in a neighborhood that has had about 500 homes built in it in the last 6 years. I would ride on my golf cart to the houses being built on the weekends just for fun. I work with a retired man would can draw plans for houses and used to build houses. He just built his own house. I acquired my property at tax sale and have quieted title. However, there could always be issues with title and title insurance may be difficult get. I am thinking about building a 3 bedroom 2 bath house that is about 1800 square feet. I estimate the cost to be about $200,000 based on no hard data but the DSLD house that I bought cost $270,000. The builder told me that I could just build a driveway to my lot rather than build an expensive road. I would probably build the driveway out of gravel. I would like to do something with this land to make it productive. I plan to build 3 houses on the land and build the house to sell or possibly rent. I am renting out my DSLD home for $2,300 per month and I think that I can get close to that. I like to own nice properties so I plan to use nice things in the house even if I have to rent it. I am looking for any feedback on whether I should take on this job to build a house with the builder and if so, what should I be looking for that I may not be aware of. I plan to build the house in Mandeville, LA.