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Wow, thanks for the responses everyone.
I guess I'll be more specific about what I'm looking at here.
Being in the design business, there are several city and state projects that are currently slated to begin within the next 24 to 48 months in the city I live in, Savannah.
I'm a city dweller myself, and have never really ventured out into the suburbs since moving here last month to start a new job as an architectural designer.
There are a suprising amount of properties in forclosure or listed in the paper for courthouse sale that are out by where a new highway is being constructed, and a few out on the main suburban feeder road leading back to the city proper that is about to have lanes added to increase capacity.
These are all within 2 blocks of major artery roads, all of which are just begining to be converted to commercial along the artery roads.
The point I'm heading towards is that I'm not interested in living in these. I'm interested in renting them short term, and selling them at a later date when commerical viability of the surrounding areas becomes a closer reality. The land they sit on may very well be worth more than the structure at some point.
I'd want to be rid of these within 36 months of purchase, meaning that no bank is going to touch me with a 10ft pole I assume.
I'm interested in what other funding sources are out there and what others experiances have been.
Being an architectural designer, I'm fortunate enough to know what the future of some neiborhoods is in terms of public works, and I'd like to be involved in these areas.
Can anyone recomend good books on this topic?
Has anyone else purchased property this way?
What else should I be looking at to get a better, braoder picture of what opertunities and pitfalls this entails?
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Seen on an employer evaluation:
"The wheel is turning but the hamsters dead"
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Is arch13 really a porn diety ? find out after the film at 11.
-Nanofever
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