My borrower also had to document that he has no knowledge of farming and no intention of farming and that was easy because he was engineer with a good paying job. 

As for Market knowledge where would you recommend using as a search engine?

Foundation/structural engineer determined a water downspout on one side of the house caused the soil erosion. 

Hi Michael,I like your thoughts of building a large portfolio because it's very important in sub $100,000 markets like Ohio.A large portfolio = A safe portfolio.Personally, I've always been a big believer in buying with cash.Less is more.Once you gain experience and understanding the true income vs expenses of your portfolio.Then look at using leverage for faster growth.It takes many years to learn a market along with establishing a solid understanding of it's "in's and out's" from a people/team perspective.As investors we should always reverse engineer and protect the bottom line first and foremost before looking toward expansion and growth.My "cash only" mentality has served me well over the years in my businesses and real estate endeavors.Especially when things turned South and they always eventually do.Start slow, start small, buy with cash and build from there.Just my opinion and wishing you much successps.

Have a read A good friend shared this story recently; a nice story about effort vs. skill – a good reminder that in many areas of work/life time and outcome aren’t always aligned; especially in thedesign & technology space…A giant ship’s engine failed.

Is it true that the bank would use the lot as collateral for a new construction loan @Troy Sheets Yes, the lot value as well as any soft costs like architecture, engineering, etc. can count as well with most banks.

Am a software engineer so I don't think developing would be an issue! 

By built correctly I am referring to SEO (search engine optimization), and the website programming.

We have had a Strctural Engineer out to the property and while we don't need to conduct repairs within the next 5 years or so, we will need to address both of these things at some point and it will likely cost us about 100k.Any advice on selling or holding for the long term?

Hi BiggerPockets, I'm an EE or ECE (Electrical Engineer or Electrical Computer Engineer) with a background in computers and electronics, as well as some software such as C++, Python, MATLAB.I've dabbled with software such AutoCAD for drafting in 2D, not in 3D yet, though.Subscribed to IEEE Magazine, Electrical Contractor Magazine, for both electronics and contracting know how.How to best get my career in real estate started to make passive income?