You may also want to check the Columbus OH market - great macroeconomics with lots of job and population growth along with major companies developing here that drive strong rental demand. 

Property Management: Are you planning to self-manage or hire a property manager?

He's also the developer and this is the first house in Phase II of this development.

Network with experienced investors, choose a real estate strategy, research markets with job and population growth, learn financing options, familiarize yourself with property management, develop a long-term plan, and leverage your stock experience to evaluate markets and trends.Good luck!

My developer client successfully defended the initial challenges and settled on this having PE rights, so he shifted the site plan to avoid the issue.

My business partner and I are developing a 60 acre 15-unit glamping/wedding boutique resort in Asheville, NC right now and learning a lot along the way!

@Todd Fullerlove Love that you're looking to develop relationships with local, community banks in Knoxville.

Tomas, are you self managing your Cahokia Height, IL property or are you working witha property manager? 

Now I've got a property under contract:$78K purchase$35K in development of utilities.$24K in soft costs (permits impact fees etc)$200K (or less) buildout of the house (size tbd on after-build-appraisal) Likely going with 2/2 A frame 1000 sf.

Quote from @Bear Geiger: At Little Bear CreekProperties, we specialize in developing large tracts of land into individuallots for home builders in the Raleigh, NC area.