@Rob Ibarra Converting non restaurant space into restaurant space can be fairly costly from what I understand due to the need for larger than standard water lines to service the building and a general need for grease traps and other restaurant specific infrastructure.My first question around going from abandoned auto shop to kitchen is zoning, could you even get the use approved, and then are their any environmental factors in play? 

Most times, the due diligence period is used for you to bring out your inspector to physically test the property (environmental, structural, roof, etc.) 

You need to have enough money, probably in the $100-150k, amount to put the property under contract, and do the feasibility study on the property, Phase 1 Environmental, Property Drawings for roads, water sewer, and utilities, and have a completed budget so you know what your costs are.At that point you can go out and attract investors, I don't thing that developing raw land is necessarily cheaper than buying discounted finished lots. 

I know I will learn a ton about these topics on BiggerPockets.com.I work as an Environmental Consultant during the week where I escape to rest up from my weekend and evening real estate projects. 

We have an imbalanced society with fewer and fewer willing participants to swing the hammer on a job site and be in the elements 8-12 hour days vs in a fast food place or office setting.  

This has the elements that the Koehler lady was talking about.

Of course, part of the note income stream is return of capital, and there are expenses with an SDIRA,  so you need to consider those elements as well.Everyone's situation is different, but the lump sum was an easy decision for me.

Since it is "AS IS", am I required to give the buyer time for inspections, including physical and environmental, documentation of the property and title?

Each of these elements can impact the overall terms, so it really depends on your specific scenario.

Once you assemble all of those elements then it is just a matter of practice in negotiating and learning as you go.