That helps diversify but I wouldn't go into the full scale development until you had a commitment from enough builder to at least break even on the project.  

Advertise the option, but don't commit until you have either a master tenant or strong interest.

You could use the BP calculator (5 times for free membership) or find some available online for free.The most important thing that is going to get you ahead: commit to do 1 thing at least every day that is going to get you closer to your goal of acquiring and creating wealth through real estate: read, analyze, go to open house....

I'd bet on you and people like you who have that type of focus and commitment all day long. 

Here's what I want from you guys and I figured there would be a lot of pro help for this...If you were vetting my underwhelming knowledge, too make sure that I know what I'm doing as far as at least getting a deal,maybe good, but just definitely not bad, what would be your first 5 or ten questions you would ask me and would want to make sure I knew the answer yo about the deal, or general understanding before I commit to buying my first property?

We have found that bandit signs and direct mail is almost useless down here- therefore we committed to social media at a very high level and have generated a lot of business that is untapped by using Instagram and Facebook ORGANICALLY...That's a great tip about using social media down here.

I obviously didn't recognize the hidden gem that is BiggerPockets at that time because I didn't come back until late last year when I committed to making my first real estate investment.

You've already committed to purchasing so don't sweat it.

So it's not like Turnkey is pain-free, you have to do the work and know how to avoid being taken for a ride, like pretty much any big financial decision in life.I am always happy to provide info to new investors, as it fuels my BP addiction anyway ;) But before you or your friend make any decisions, it's crucial to have a serious heart to heart about what the goals are for the investment and what your needs are with regard to time commitment, risk, and control (do you need to be near the property, do you need to be in charge of tenants?).

Recently, I have made a commitment to get myself back on track and start growing my portfolio again.