Quote from @Andrea Ward: I recently purchased a small tract of undeveloped, heavily wooded land in North Mississippi in a neighborhood.

But, but, but; it was in no way shape or form "passive".

Next, I'd start looking for a market that will fit your needs & do some research on the market's economic divers / population rates & other things pushing the market to grow & take a trip out there to get a lay of the land. 

- In our opinion/experience, it's important for an OOS investor to understand the "lay of the land".

Real estate is a long term wealth building strategy and in that one year you can learn a lot about home improvement and land lording. 

I've never been but the photos I see it's always Large newer homes or SFH on a large piece of land.

@Travis Smock A cost segregation study could benefit your 6-unit property by accelerating depreciation, even on a lower-value property like yours, especially with low land value.

So, I've been diligently networking with realtors in my sphere, but let's just say I haven't exactly landed at the top of their preferred investor list.

I designed a little U-shaped kitchen to fit right in the space.

No need for a land trust since the WY will provide the anonymity needed.4.