The sellers also have their eyes in the sky in regards to pricing because they believe that the commercial aspect is enough to raise the price, even though the land is outside the development currently.Does anyone have any advice, tips, or knowledge on the subject?

. :)Any transaction that does not only benefit your IRA or solo 401k plan, but instead you personally or someone you know who is defined as a disqualified individual (e.g., your parents and children, for example) by the IRS will be deemed prohibited.Unfortunately, such transaction would violate the following prohibited transaction:https://www.irs.gov/retirement-plans/plan-particip...

Yes get a LLC or a partnership formed defining who gets what percentages.

@Jay Legaspi I think a partnership is a great idea, just make sure whatever arrangement you make is as clearly defined as possible and written out ahead of time- and everyone agrees to it.I started with single family, and I'd advise that route too.

Whom do you bring in for which different aspects of the inspection? 

I am interested in rental properties mostly but also looking into flips and or wholesale if it's an option in my area.I have a lot to learn about every aspect of real estate investing.

I'm in the middle of creating a business model, defining my business, and doing all the leg work to secure financing for it and what not. 

I too one day aspire to have a self sustaining business covering all aspects of my investing.

I'm getting a bit discouraged about Arlington, even though there are a lot of great aspects to the area.

There are positive aspects to Wilmington, appreciation isn't one of them.