A little birdy from the county told me today about a property that has 50+ developed lots with sewer & water already in place for sale in an established neighborhood of about 60 built homes. Some roads need finished.

Under 200k!

This was a large builder at one time.  I drove right over and I'm excited about the opportunity. Did I say....Under 200k! I feel like they are giving it away. It also has another 20 acre of not developed land. A wet land area already in place and two ponds that I could put a walking path around. Im very interested in this BUT I DONT KNOW WHAT IM DOING. Does anyone else have an interest or advice where to start? (what I don't know)? P.S. I ask the county why they are selling so cheep and she said "we are holding a 600k bond they want back"  I understand there is some kind of insurance I have to get in case I don't do what I said I'm going to do. Maybe like this bond? I don't know what I don't know. I could maybe just sell the 50 lots off at 10k-12k each and make 500k and then sell the 20 acre off as well. So Many ideas I don't know where to start. I can come up with or have the $ to purchase but then what?