If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

.- If you hold a rental until death, you can pass it on with a stepped-up cost basis, limiting captial gains if then sold (limited by inheritance tax limitations).Too many newbies on this site trying to replace their day job income via "passive" real estate investing w/o digging deep enough to understand how it really works.

Valuing your time and understanding your limits and skills will make a big difference in the equity you build, the quality of the work and your sanity. 

The maximum leverage I have ever seen in trading accounts is 50%, and that's very limited and select.

But he has clear advantage of getting much larger deposit (landlord in most jurisdictions is limited to collecting 1.5 or 2 months' rent payment, which he must place in an escrow vs. $8000-$10000 Scott can collect and use for any purpose the next day). 

When you say country subdivision do you mean outside city limits, or just not a large city?

it does allow you to repair things outside of the home to a limit. 

Full gut renovation, including but not limited to full replumb, full rewire, complete mechanical upgrades, and new apartment finishes from studs.

If you buy in a city with limited appreciation, every investment dollar must come from your savings, which is beyond the reach of most investors.Income continuity.

.- The variety of financing products available as individual tenant in common loans remains limited, and the terms are generally less favorable than either apartment building loans or condominium loans.