It isn't in the "best" area, but is a 60 second drive from shipping centers, etc.

I could honestly say it was the best decision I made since leaving college and taking steps towards a future I am capable of creating.

Since you are local, you are likely capable of putting all of the pieces together without bringing the realtor it.At the end of the day it's up to you... but I have to agree with Todd, as the markets continue to stabilize, good deals are getting harder to come by.

If the tenants are on an 18 month lease, you run your analysis using current rents as projected income. this lowers your purchase offer, and punishes the irresponsible landlord for offering an 18 month lease at below market rents when he planned on selling. if the lowest price he is willing to accept is calculated using market rents, then you compare your risk aversion and capability to carry the property at a loss for 18 months to determine if it is worth buying still. likely not depending on how far under market rents are.

It has been a long, slow process trying to delegate and pay others for what I'm perfectly capable of doing.  

If the lots already exist in a community it does not matter what size they are as long as the town ship approves them.

That gets old quick.I would explore TIC with % listed and  a JV agreement that outlines the excellent post of @Jerry W that describes the potential pitfalls of the ship that often won't sail, I mean partnership.

Can anybody offer advice and/or recommend a good design/build company who would be familiar with this zoning code, not the most fancy expensive outfit but somebody capable and certainly not the cheapest?

JulieLot  161k  escalator clause lot listed at 140k  3 offers highest and best I put my escalator in there for 1k over the next competing bid.. and I do believe since we bought and built the two across the st.. everything being equal the buyer knew we were capable and would close without heartburn240 ish to build  1700 sq ft...  20k soft cost  capital tax's insurance  bring us in at about 420k... 

Knowing who is going to close, knowing who is going to be a pain in the but to work with, knowing who does or doesnt prep their clients for home inspections, knowing who uses good lenders and who uses a lender who will screw up the transaction...further knowing what lenders use local appraisers who know the market, and who ships in cheap out of state appraisers to save $100 and will appraise the property low because they dont understand the market.