I was looking at purchasing beach front raw land down in here in FL recently and while everyone loved my initial business plan, every layer or due diligence displayed another 100k of Capitol that I didn't anticipate because of zoning, environmental, and regulatory restrictions regarding development of said land.I know you own the land, but have you researched the regulations surrounding the base?  

But in areas where there is plenty of raw land that can be developed, it shouldn't be pushing a high percentage unless the market is over appreciated.On the flip side, we've been experiencing under appreciation in the Pittsburgh market because the population has not yet returned to pre-1980 levels.

Becoming a real estate agent might be a  more fruitful ,way to get started.

Depending on your proposed site, they can be expensive...in the $10's of thousands in some cases.That's the tricky thing about land development...to take a raw piece of land and build on it usually involves triggering extensive development requirements by various agencies. 

They want the low hanging fruit and will not pursue the hard cases.

I am fighting the urge to buy raw land and develop 30 or 40 lots of my own in my area.

Developers are the ones that go in with the raw land (before anything has been done, prepares everything for a subdivision or to get the property to a point of doing the type of project you're planning (install the utilities, put in streets, etc.) and do all of the work needed to bring it to the point of being able to build something on it.

It's low hanging fruit but maybe for your personal residence but not so sure about investing.

The rent was not only going to cover the loan interest rate + mortgage, it was going to cashflow $150.I'm a college student, I don't have a 9-5 job, no credit, no debt, I knew I could pull this off if I could show the raw numbers.

just curious 5 months of work for 3500 and to split with a mentor partner.. are you sure this is a viable business... do you think same effort and getting listings that actually sell and buyers that actually buy might be a better use of your time and a long fruitful career..