Quote from @Chris Seveney: @Francisco AvancenaThere are specific lenders who will do land dealsBut of course not as many as traditional real estate.The key will be skin in the game - typically for land because it is less liquid than a home the lender will want to have a lower ltv on the deal I fund land flippers currently in  CO FLA WA ID MT NV AZ OR TX SC GA VA  one thing about land though LTV is lower and RATES are NOT the same as typical HML rates are higher for raw land but its a specialty niche and a business that I grew up in..

Based on my experience, the key to success is screening for good tenants and managing them well. 

Although those guys had brick and mortar and where very good at what they did ( screwing people)this new crop are just hiding behind social media and their key board. 

You might want to limit your visits though to avoid escalation.Short term if the smart lock is on his personal door just change it to a key if it's isn't working for him, you can always switch back later.

Clear Exit Strategy Since you’re dealing with a short-term loan structure, having a clear exit strategy is key.

I think getting really good at one thing, establishing a network within that niche, and being able to analyze deals quickly is the key making things work.

Be sure to include instructions for turning in keys, notifying you that she's out, etc.

In multifamily here in Reno, NV (just over the hill), we have seen some great deals with higher cap rates for buyers, but also very low cap rates on some renovated, turn key inventory. 

Metrics and local zoning rules and regulation awareness is the key.  

The worst lenders I have dealt with are the ones with underwriters in one time zone and origination department in another, branch manager in another that don’t communicate well with each other and end up over-promising while not being able to deliver.