The alternative is that you sit on the sidelines and wait for the winds to shift in favor of buyers but timing the market can be a difficult task as patience is a virtue that many of us do not have the luxury.

@Jake Engle, if you develop and sell lots they will not be eligible for 1031 exchanges. 

Does anyone have experience with such a small development and provide consulting services?

Is there a checklist you use or a certain group of tasks that you have the trades perform as preventive measures? 

NOT ALWAYS  2008 to 2012 cleaned many SMART investors clocks  with billion dollar development and syndicators going busto .in a crash for sure those with Cash  and not afraid to pull the trigger will do well.. 

The Vice President had a Bachelor's degree in Politics and Policy (After landing a job at the company, he went on to get a Master's degree in Real Estate Development).

Once the lots are developed, I can then buy out my partner and own all eight lots.

General Frisbie was largely responsible for the development of Vallejo and for establishing Mare Island as a Naval Base.

Seeking advice…A local developer is trying to build a subdivision on land that is behind a home that I own.

Looking for an agent that is used to working with investors, knows the neighborhoods well, where development happens, the good and the bad blocks, the rents I could get, and most importantly is available and can move quick on a newly listed property (already missed a few properties because of that).