Thanks for the advice guys.

Colin i would expect to get about 700-750K for each. As a rough estimate, if i can get the land for  800k- 266k each-lets say 300k including subdividing, stamp duty etc. Im guessing i can get a builder to build for 250k-300k. i have a builders license,  and will do all the concrete slab /landscaping myself – so i think it is possible for 250k build.  300k (land) + 250k( Build)= 550k . So their is 150k per unit, less selling expenses and holding costs.
Does this sound profitable enough?

Im in the position where i can purchase the sell my house and purchase the block outright, while i went for the year. As is it my first project do you think its would be best to keep leverage to a minimum to reduce holding costs and risk?

Thanks heaps for the advice guys,
Greatly appreciated