@Ketch Bays I started with the exact same amount of money.

I would clear that out if you sell, keep a little to "stage" it.

Additionally, the preREO strategy of having a receiver appointed to repair and rent properties during the foreclosure process is best suited for local investors, not out-of-state investors (or hedge funds, for that matter).

Instead of discussing the possibility of owner finance with sellers - what if I offered the opportunity to  JV where they are the equity partner?   

There’s zero chance I would move out.

@Hudson Filippi What part of Northern MN do you live in now?

from my advice rural properties and developments aren't successful and you are climbing an uphill battle. sounds a little niche. we focus on developing and not reinventing the wheel. if this is truly what you want to focus all your time and energy on then visit the closest 5-10 of these that look like the ones you are interested and ask if they'd expand or build a secondary one. do a lot of research before you just take action 

@Kathy Grossart,A couple of things don't fit here:1.

Some situations where they (the projects) do not go the way of making the profit as you wanted, but there are still deals out there to be had.. 

It was kind of a bad spot in my life at the time.