While we were out driving around, we saw a small motel with a little for sale sign.

We were told to buy lots and then sign contracts to build with Blacktip.

Yes, you can work on a subdivision, especially if you let the seller/lender know your intent, since some jurisdictions require that the lender of record sign the map before it gets recorded.

Get as much understanding and disclosure as possible on the closing fees and escrows that will show up on the settlement statement - including stuff like prepaid interest ("stub interest"), tand and insurance escrow holdbacks, etc - biggest pitfalls we've seen are people not 1000% clear and aware of these things then getting very negatively surprised at the day of signing 

And without a solid budget, you are even less likely to get a lender to sign off on the deal.The best way for many to get started is to find a friend or family member that has money and can invest in the deal for the lion share of the profits.  

@Regina BaileyThe problem with Certified mail is the tenant has to sign for it.

So we agreed on a price, shook hands and signed some papers.

Like Michael said, I would use a cleaner once a month to clean or biweekly, restock the common area items (like TP, dish soap, etc), and sign up for routine lawn and snow services.

Or figure out how projects are developed and get one "most of the way" (land leased, site planned, permitted, power purchase agreement signed) and then sell the deal to a big developer.My perspective: My W2 for the last 8 years is environmental and development consulting for oil & gas, renewables generation, transmission, and commercial RE development.

For now, it is an Excel spreadsheet but can be pulled into Google Sheets and Numbers (even though the formatting may get a little funky).It is a Pro member feature, so if you are not a Pro, sign up for a free trial to see all the amazing perks possible!