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

Have also done work in DC and Maryland and would say Virginia has significant benefits over DC and Maryland because it is more business friendly and jurisdictions are willing to work with not against developers on projects I mentioned as well as you mentioned With the federal government and government contractors not going away - area is great for investment.

Extra income by renting and the benefits of appreciation.

Sec 8 here also inspects the home each year, in addition to your PMs inspections (if you have one).

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.

If you can get hold of a reliable and honest builder, you will be fine (that does not mean you will not go over budget).Low CapEx, Little Hassle, Quality Tenant, You can manage new construction out of state for the first 5-years, Tenant May Stay longer (because is a brand new house) are few benefits of new construction.You may not be able to get close to the 1% rule though.Goodluck

It was written before the days of YouTube, so it's not full of the common nonsense where authors sell a course, send you to their website for downloads, or write a follow-up with additional "secrets" they forgot to put in the first book.Long-Distance Real Estate Investing by David Greene was another good one.

That no additions or remodeling was completed without a permit.