I've never done this before, as this will be my first real estate investment property and I want to make sure I cover all my bases.What kind of due diligence should I do to insure that this lot is suitable for a home?  

If you want to flip this property, you don't have to do anything right now, when it goes under contract and during home inspection if the buyer asks for replacement than you could either replace it or offer them a suitable amount.

That question might be best posed to a suitably qualified attorney.Ask about setting up a business entity / structure to acquire the property and see if that might insulate it against being deemed community property in the divorce.

Yes my agreements have a provision in there that give you 45 to 60 days to find a suitable time buyer@Everett Marshall

I passed my exam and will be receiving my license once I find a suitable Brokerage near Chicago, IL to sponsor me.

I am looking for recommendations on cabinetry suppliers, contractors and other resources suitable for an affordably priced "starter" or family home for this region.Thank you.

My intention is really to buy multiple properties using 20%-25% done, but I was hoping that due to the time constraints with the 1031 exchange that if I couldn't find enough suitable properties that I could use a full cash purchase on one or two to complete the process within the 180 day window, then cash out refi to buy more properties. 

Trying to do my research on areas suitable to buy rehab and hold.

Don’t go nuts, just track some of these: web page, blog posts, social page views; click through rates (percentage of visitors who clicked on your CTAs); email bounce rates; sources for leads; social followers and friends.

If an prospective tenant or applicant doesn't meet your criteria to rent and you can see that from their application and/or conversations with them, let them know as soon as you can so they can keep looking for more suitable housing.