Two tips:  Plan for Property management when you buy the property (because you will move), and don't bet on appreciation and selling in 3 years (that's gambling).Good luck!

Full disclosure: I have four kids, two with Master's degrees in their chosen fields, one with a degree in Economics and another that's pre law, so I've had very similar conversations.  

I've chosen a path of buy and holds so I can't help you too much on the wholesaling side, but maybe @Brett Snodgrass can chime in

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After leaving the service he was employed with Proctor and Gamble in sales.

The gamble will be: how long will the Tenant last, and/or how much will the land appreciate?

Properties at this price point and in this kind of neighborhood are hard to insure and costly, so it was a gamble on your part, to not insure them.  

You could not have chosen a better online resource for networking and education.Best of luck to you.

I have chosen to invest in the Northern Kentucky/Cincinnati, OH area, and not in New York, due to the affordability and abundance of opportunities. 

Aida,You could not have chosen a better online resource to both educate yourself and network,  although I suspect with your experience you may be able to coach others on some topics.