@Salome Ditmars In addition to what has already been shared on this thread, trusting the sponsor will be paramount to you sleeping at night, and I can't stress that enough.

He's a legit guy and we are now on agreement to purchase an additional 66 acres. 

Use one of your free 10 reports on Rentfinder.ai, in addition to the standard comparable analysis from Zillow.

@Keaton Sheffert Zoning changes can be a valuable tool in real estate. 

I suggest you make a separate post for this valuable content. 

This will give you a clear idea of what the house might be missing, and or need and gives you time to make those changes/additions before your first group.Another tip: I think it is natural for bigger properties to have more vacancies during the week/slow season.

(in terms of pros and cons).You can also use rentals to provide additional borrowing power if your rental currently cashflows from a tax perspective.Hopefully that helps your scenario advance forward in terms of what to ask and think about.

Additionally, I verified that the parcels are buildable and analyzed competitive market prices, which suggest high profit margins.

That no additions or remodeling was completed without a permit.

I do qualify for being a broker which comes with some additional education etc.