A and B neighborhoods typically don’t produce much cash flow and are more of an appreciation play—something the city has been seeing quite a bit of over the past decade.

This is where my mistake comes into play.

Expect any step needs to play well w/1031.

I'll definitely play it safe.

A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

Should I play harder and get into land development?  

It's a power play. 

As an investor in a market where cash flow does not come often and appreciation is a bigger play, I understand your mindset. 

If you’re newer to real estate, role-play scenarios with a mentor or colleague.

I'd be interested in owning a single family home in the area I am concentrated in just to see how that plays out one day.