Networking with local investors and visiting potential markets can also give you valuable insights.

Thank youBest,SathishkumarI would potentially try starting out being a cohost in that local area or work for a cohost company .

You'd learn and potentially earn a profit at exit.Another way is to wholesale the land.

Typically, I run a current income/expense column next to a ProForma column to show potential value add opporunties.I agree with @Robert. 

I've never heard money/profit described as cute, so it's not important.The most important thing you mentioned, was the rent potential and ARV. 

Quote from @Basit Siddiqi: I personally would not buy real estate with a retirement account.There are just too many headaches that are not worth the potential increased return.Some headaches when it comes to investing in real estate with a retirement account1) LTV values are less and harder to find lenders.2) Potential to sell or partially distibute the property if you have to do a RMD(Required Minimum Distribution)3) If you run out of cash and have to make a major repair, you may be out of luck and have to sell.4) Having to potentially worry about UBTI(Unrelated Business Taxable Income)I would personally invest in stocks/bonds/notes with a retirement account.I buy deals with cash and use a ROTH SDIRA so there are no RMD's.I buy at huge discounts to retail.

We have specific and unyielding criteria for this, which we provide to all potential borrowers in advance.

The impact of not having F/f financing is large (>10%) if the appraiser recognizes this potential issue.  

Since this is my first project, I’m very open to any advice or suggestions—especially regarding potential obstacles I might not have considered.

Is saving the fee a PM charges worth the potential thousands in cost and headaches?