As a result, I would spend more time trying to understand who they are partnering with than anything else.  

Or you can look at transactional funding, but you'd likely spend more on marketing as the need for double closings are less than fix and flip deals.Again, all the best to you on your journey!

Apply for a dimensional variance on the vacant lot to allow a smaller lot and/or setback so it can be built upon.Your best first steps are to sketch a plan, possibly with an engineer's help, then contact the zoning department to discuss your idea with them to get informal feedback on your liklihood of success before you spend a lot of money.

You will also quickly learn how to manage properties well instead of spending decades figuring it out like most investors.

Trying to do my due diligence and research reviews on them before making this expense.  

There are a lot of inconsistent contractors, so really spend some time vetting them. 

There are many reasons why I haven't pursued the arbitrage model, but mainly that it takes too long for the ROI after investing all your time and effort into buying furniture and renting and paying utilities.Let's say you rent an apartment for $1500 and you spend $7000 to furnished it.

It can make leasing a bit harder since you will have more vacancy when those come do but it will all be in peak season.With respect to the hiring decision, you would need to hire someone to replace you (perform the same functions you currently perform) so that you continue to work up the ladder (spending more time on higher value tasks).  

I will figure out what to do with it when I get to $20M, but it will probably just be finding new ways to improve built environment along with travelling more and spending more quality time with fam. 

If I was in your shoes I would find ways to streamline your day job so that you are not spending as much time in that role.