Total asking price 550k.Vacant lot of 7+ acres right next door recently sold for about 400k with same zoning and preliminary approval of 15 lots.

Account Closed Realtors use a standard purchase and sale agreements, or a shortened preliminary purchase and sales agreement for their particular county / region. 

Mitigating risk is one of the most important things once you are past the preliminary phase of building your capital.

Send me what you got, (got to connect for the files to attach to your message) I got a great civil and he does a preliminary study for peanuts$ so his clients don't buy land they cant build on or it cost way to much to get the site ready to be built on.  

3) Have a conservative budget for repairs, even on flipped properties4) Check out the property's history, and understand why any hidden problems that may be putting it on the market5) Get more meat.If my rent-o-meter freebies have run out, do you all have any advice on finding preliminary rent comps?

I figured there will be a few areas that fit the criteria, and that’s the same conclusion I’ve reached just but doing some basic preliminary analysis on places like Jacksonville, Orlando, Houston, and a few other areas I’ve heard are good.

Once we've done this preliminary work, when we look on Google maps we really understand what it's like.  

I actually have my NC RE license, but it is preliminary and inactive currently.

Knowing that can be invaluable if you use it to your advantage which I would be willing to place a small wager that you do.

You'll also need to run a test ad.I would go ahead and tie it up at that price, based on just that one item, and then do some preliminary diligence on the other issues.