Might be to much to digest at this moment in time, but as I grow my real estate investment portfolio I can reach out to my development contacts and review best options.

Or large tracts of agricultural land that is share cropped out.4.

For new investors, buying out of state property can be difficult to digest than something in a couple of hours driving distance.

Pragmatically, I generally preapprove for FHA, and check eligibility for the two programs after it's in escrow, since MOST Realtors don't want to know anything more than buying power, and the MLS systems are not integrated into the two websites where you look up the census-tract-specific income limit for each program, so your Realtor will want to murder you if you try house hunting by census tract. 

A lot of information above that I'm currently digesting / researching.

Just google down payment assistance in your state or city.Also might qualify for what is called a census tract housing bond, big banks like BofA and Citibank offer this, sometimes with zero down, no MI and low interest rates.You can do a seller carry back and do a rent to own to a new investor or owner. 

Dwelling Unit Area); however you would not be able to subdivide a 5000 sf lot zoned R1.You will need a civil engineer to prepare a subdivision/tract map to file with city. 

My May goal would be use private or hard money to acquire a tract of land.

Yes, this has been well publicized and there is a lot to digest with it. 

@Cole Holloway congratulations first of all by choosing a tract with your wife in real estate.