I'm no expert, but my loans have the following info: "I/We, the undersigned, hereby declare that I/We have never in the past and do not currently reside on, us, or in any manner claim as a homestead, either business or residence, and that I/We have no present intent to occupy in the future, use or claim in the future, either as a businesses or a residence homestead, the tract or parcel of land now being offered as security for a loan the lender identified below......it lists the county, the legal description etc blah, blah, blah".

You really want to learn costs of bathrooms/kitchens/flooring/painting/landscaping which are the basics really that you most likely will need to do in any flip (hopefully you wont need to do all of them lol) get a feel/ask around/search up plumbing and electircal complications as they are the ones that are hidden costs and usually expensive and then eat up all your profit (best flips are the ones that just need cleaning/painting and are an easy 10% in 2 months so look for those if you can)Buy and hold properties to rent out are a little different as you want to get low quality floors/kitchens (cheap) to simply rent out for long term generation of income and then eventually renovate, you probably wont want/might not have time to renovate and want to get the cash rolling so look for properties already with tenants because you start off on the right tract without needing to do anything....Not sure about funding really since im an all cash buyer sorryHope that kinda helped lolBest of luck investing

I am targeting specific census tracts. 

Some of the tracts these properties are located in can be incredibly difficult to lease up and rents are usually set around affordable housing levels.

There's a developer in my town who buys large tracts of land, divides them, put wells and septics on them, and sells an acre lot for $38,000 with no credit check.

The education will expose you to different RE career tracts.

For instance, I purchased two small tracts of land last year where there was a governmental agency listed as an interested party.

Just like in 2001-2006, they are buying up farmland everywhere and turning it into tract housing.  

If you want to save yourself some hassle, view conventional offers more favorably, or nudge your FHA buyer into Fannie Mae 3% down FTHB program if possible (income caps by census tract).2.

Payment was recently made to the State of Alabama for a small tract of land.