If you're asking what a REI (real estate investor) does, that can be a pretty broad answer, anything from tax deeds/liens to rental properties to raw land with natural resources.

You cannot see these mistakes with the raw wood but once it's finished, every little imperfection pops out. 

Raw land and installing utilities also works with this model, I connect to city water, sewer, and power.

Is it feasible to buy raw land and build a duplex (thinking approximately 900-1000 square feet/unit, possibly less), or is it safer/wiser to wait and buy, with possible renovations?

MB certification approval is based upon more than just raw habitat acreage, although that's the main value.

Rental property investors typically earn an annual return of 6-12% of the property's value, translating to anywhere from $10,000 to $50,000 for a single-family home, depending on location and property type.Land of the Lots: Investing in raw land can be like planting a seed and watching it grow into a forest of financial opportunities.

Make sure you are not just lending on raw land. 

Affordable housing... connecting new buyers directly with builders and raw land?

Chad,I like to buy land at tax deed auctions or acquire property from people whom owe back taxes, etc. and will sell their raw land at a discount.

1) Land $30,000/Per Unit (40% Down and 60% raw Land loan)2) Construction cost $70/sqft. (20 down and 80% Construction loan)Zip Code I am targeting (28273,28213,28027,28215).