And boom you buy a lot for the price of a single lot and with some simple forms to the city you get to re establish the old lots..

What's in it for me?

Consider forming an LLC for liability protection or an S-Corp for tax efficiency if flipping frequently.This post does not create a CPA-Client relationship.

That will start to help form your strategy.  

For me it's family, friends, and the food.

For me it boils down to more of a personal decision - can I afford two homes, do I want to have two homes and the stress of it, or just take my money out of one and put it in another.

I do it myself and takes 20 to 30 minutes a month (did it yesterday for Dec), with about 7 of those minutes for 1 property in Blount County, TN which requires the form to be manually filled out, write a check, address an envelope, scan doc and check for my records and walk it to my mailbox.

Also, I'm looking to form a power team in each of the states mentioned.

Some lenders are individual investors; some lenders are syndicates or have joined individual investors together to form a lending institution.

The other factor that's relevant for me is that my husband is a high end W-2 wage earner and we could greatly benefit from the potential tax benefits of actively managing the property.