While I think neighborhood farming is a good idea, I'd say instead of doing it geographically, think about who is most likely to move in your community. 

However, I'm finding the available comps to be quite sparse, and the spread is larger than expected, making it challenging to pinpoint a likely value for these lots.I'd greatly appreciate any insights or local knowledge about this market.

If you are unwilling to be committed enough to a lender to even allow them to do a credit pull then they are probably less likely to take the time to provide you a detailed cost/fee breakdown especially when they know you have a lineup of lenders that you are considering. 

Explore what life with there PM service looks like.

I like the idea of using a HELOC for value add projects where you can refi in 12 months to pay back your HELOC.

Partnering with family and securing owner financing to acquire the property below asking price was a smart move, and the renovations sound like they added significant value.As a direct lender, I’d love to explore how we might assist with your future growth, especially as you look to scale into larger multi-family investments.

Like I said- just another issue to help you make up your mind.

Sounds like a great plan!

You want to talk to friends and family on this, I don't know anyone who would see this on the Internet and be like, yeah, this sounds like exactly what I am looking to do with my money.

Any of the second tier large cities like Greensboro, Winston Salem, Asheville, Wilmington, and the surrounding areas will have plenty of options.