He mentioned purchasing a rental property for his child to pay for their college.I was wondering if I should purchase a home, put 20% down in safe yet high price area, and rent the home in hopes of selling it in 15-20 years to pay for future large expenses.

For child support. 

I'm seeking input on what the BP community thinks is a fair fee for my role in finding investment for a land-development transaction. - The seller owns about six empty lots in TX in a desirable city.

:)It does not matter where you start as long as you develop your Core 4.

We started driving around our market, taking note of new developments and properties for sale.

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You develop a marketing plan, funnel, define target channels, etc. 

Looking for an attorney experienced in dealing with note/mortgage contractual violations as well as what constitutes or is leverage to stop a default interest rate, misuse of construction holdback by the servicer, accounting errors and or torturous interference Experienced sponsor/developer long track record , AAA market region, hedge fund capital local servicer.

As an active investor (GP) that means developing all the attributes that are consistent with being a good sponsor, to be able to identify, acquire, manage, and exit and asset that provide passive investor like yourself the desired returns.  

But then the 2008 recession happened and the developer lost everything as his project was auctioned off at pennies on the dollar.