Looking for some advice if this seems normal for closing costs on this piece of Land my wife and I are trying to buy.

Normally the tenant will initiate their payment, it will take 3 or so days for the payment to withdraw and another 3 or so to deposit into our account.

It's also important to note that the industry standard is always going to be to take comps closest to the subject property first. 1+ miles away is considered to be far from the subject property in normal metros.

You might say crypto or the next google and I would tell you your gambling.  

Plus you’re gambling since it’s not rented.3.  

Quote from @Kelcey Gamble: Most loans require you occupy for a year or two before you can rent the home.

I would prefer to do this, then sell the property since all my properties are cash flowing well.Will I -just be able to resume normal payments after the 60 to 90 day period? 

What you would normally want to do is establish your own escrow account for Repairs/Maintenance, as well as Capital Expenditures for your rental.  

@James Bruntfield the blanket loans that most banks offer normally have a higher loan amount than what these properties would qualify for.  

Do most newbies normally hire out a GC to build their first house?