I would also carry the loan and establishing a penalty for early payoff (how much penalty?) 

We bought a new build last year and it came with a lot to be desired on the landscaping end.

This is looking to be a more complex lending situation due to lack of relationships established, but I have to start somewhere i suppose.

I would establish a team in whatever area you choose.

If you can establish a team you trust in a market perhaps the team is more important than the market itself.  

My goal is to establish a well-rounded portfolio of rental properties that not only promise financial growth but also offer value and sustainability to communities.I’m particularly keen on understanding the nuances of different real estate markets, effective property management techniques, and strategies for making informed investment decisions.

I have a lot to learn about everything you said!

here you go:https://www.redfin.com/IL/Bloomingdale/174-Merganser-Ln-6010...as you can see, it's the LOWEST priced land in this very established neighborhood!

There's a lot to unpack here... and it's not my goal to be a 'downer' on your aspiration... but just telling you my experiences to caution you about being new to the game...First - I don't think we know what state you live in, so just know that foreclosure auctions are handled very differently all across the country.  

I've always loved learning and there really is a whole lot to learn.