Building on empty lot

[Valentin Zalutskiy]

Hello,

I have been on the search for a duplex in norther california that would provide cash flow, but no luck. So Im thinking to try looking another route, I just don't know enough to do the numbers yet. 

What would be things Id need to consider to buying a 5 acre lot with other investors, dividing it into smaller parcels, and building single family and duplexes?

Any advice would be appreciated!