They have 7 lots left and they are putting spec homes on 5 of the lots.

The other half will have the 2 other houses but I will most likely knock both down and build a spec house and sell it.i'm giving all this background because it is my understanding I will need to either rebuild the current house with cash and not tell the bank I am doing it or refi out of the existing loan into a multi family construction loan. 

Hey Will,As a PM in the area:-have a lawyer look over your lease-make sure EVERYTHING is in your lease (who replaces air filters, who replaces smoke detectors batteries, who cuts grass)-be thorough with background inspections-make sure tenant is aware (and is in lease) on when fines occur for late rent and how much they areThose are things that first come to mind.In can be expensive and time consuming to set it all up the first time and do it in a way that protects yourself and your investment.Let me know if I can help in any way!

But do I agree it certainly has a superficial appeal to those driven by envy of others, that I will fully acknowledge.You need to dust off your specs on the agriculture provision so you can see it "clearly" to use your "verbiage".

Some other specs:2019 Gross Income = $78KMy Current Rent = $1125This will be my first RE investment.

Working with the builders as they built spec homes.

We always have powerful battery operated lights to see the dark areas.

It will be a new spec build that will consist of two 2-story SFR's What made you interested in investing in this type of deal?

You can use changing smoke detector batteries or changing furnace filters as the reason to enter the property.

Most of who I've spoke to so far are spec home or cookie cutter builders.