If you are lucky enough to find someone I would estimate you paying a premium.Be CAREFUL, there are so many red flags in your situation, as a landlord I wouldn't touch you with a ten foot pole!

@Mike Moore I think others have done a great job highlighting areas of potential work that can also help fuel knowledge for this avenue of investing, but it's not required.

There is job/population growth all over Houston, but a lot of activity in the north Houston suburbs (The Woodlands) fueled by a new Exxon campus.

You also need to check with the utility companies and get cost estimates from them for availability, fees, hookup charges, transformer and power line/power pole locations or relocation requirements, water, sewer,gas, cable etcYou will need ball park cost estimates from site work contractors for site work, roads, installation of utility lines etc.

Politicians are not stupid and they rallied around housing with a massive injection by the Fed that was far-reaching and swift.Some say the government intervention will only fuel hyperinflation if that is the case, then real estate is one of the few places you will want to be invested so as an investment I don't see that argument as a negative. 

Fuel: $?

It seems as if agents and flippers are at the bottom of the totem pole with developers, large institutions, and commercial/investment companies at the top.

As you suspected, you've found a great resource to fuel your learning period.

My name is Marcin and I'm a 37 years old Pole living currently in Berlin.

If there is a storage building, or perhaps a unique storage system pole barn used at lumber yards to stack materials, concrete oil pits or a communications tower fixed to the property then the construction or replacement approach would be favored for those improvements.