Rio del Oro area near Albuquerque

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My dad is looking to purchase a lot in this area as an investment. It's about 25 minutes outside of Albuquerque, and is just a few miles away from the RailRunner train stop at Belen. I briefly read something about one of the development companies that has worked in this area going under, which makes me hesitant about investing there. Does anybody have any suggestions about what questions I should ask or information I should gather before we decide to proceed with the investment?

Also, does anybody (perhaps somebody local) know what homeowners/builders are buying lots for in that area? Where I'm from in Iowa lots just outside of town cost about $40,000, which I'm told is similar to Albuquerque. If that's so, this could be a very good investment.