Ensure there are no liens, they may need to be cleared prior to filing as a lien holder has the 2 acres encumbered, you might consider buying sub-2, but I wouldn't other than RE taxes as mentioned.Make sure the area is acceptable for any septic requirements.Check easements and you may need to draft an easement for ingress/egress as your minor sub can not land-lock either parcel.Double check for encroachments and set back requirements.Water retention issues?

I'm not a license holder, I suppose having someone with professional credentials put the seller at ease.

They are going to be the holders of your gold....so you want the straight answer from them to tell you what documents you will need and the time periods.   

In a recent podcast that interviewed Brandon Turner that I heard, if you listen in between the lines, you’ll discover even he is having enormous challenges with his apartment building in Cincinnati.It’s likely why he’s more excited about his mobile home parks and syndication deals now.It’s a common theme through the Midwest,I think.Don’t just talk to brokers and local stake holders with vested interests...Speak to investors who have actually risked capital.They’ll tell you the cold hard truth about investing in the snow belt.

To avoid that risk many note holders pay the note servicers to handle communication with the borrower.

Because taxes are our largest lifetime expense, I'm a buy and holder. 

As I identified above, my comfort surrounds notes and commercial real estate as I deal with both on a daily basis -- just not as the note holder, and certainly not owner-occupied notes on the secondary market.

The holder of the first only cares about the $70,000 they are owed. 

I would never recommend investing for appreciation (and our market currently appreciates none), but I see a lot of buy and holders interested in our area for rentals and cash flow.I love what you're doing - I wish I had done the same with my first two VA loans - multi-families/house hacking.

You need to be listed as a lessor and as a certificate holder.