Create a network, prepare for the future, and conduct extensive due diligence on properties.

-If these sorts of deals are doable (preferably in NC, but I'm open to other states as well), are there real estate lawyers specializing in this sort of thing?

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

I love watching everyone create their own special space in the desert

What is special about this property--what's going to make it easy to rent (or do whatever you need it to do)--is it in a great location? 

I have been a section 8 landlord in indy since 1985 and managerfor others since 2011 specializing in section 8.the most houses and doubles we have had with sec 8 is over 400 at 1 time. 

I specialize in buy-and-hold and value-add investment strategies, with a focus on multi-family properties.

Hire a specialized company for lease and contract analysis to obtain more detailed information.5.

It could be - but they are not specialized in real estate. 

Prepare for growth and check out RentVine.