My plan is to secure the permits for the lot split and the new construction before I approach a builder.

I would not even consider looking to invest till your credit score is approaching 800 so take your time, keep doing what you are doing, and save every penny until you reach that point.

I'm speaking as a beginner but couldn't feel more confident in the approach of building initial wealth through frugality.

So I decided to rent it out as my payments were also incredibly low. 

I have however never needed to dray on any funds other than the LOC.I have sufficient funds to pay off my properties however that approach does not fit my investment philosophy.  

We used an approach similar to the above while living in London having lived in New York/New Jersey.

Three months after closing the interpreter approaches my client with a piece of paper and told him he needed to sign it in order for hm to obtain financing for a home. 

What an incredible concept.

Depending on the size you had in mind you could use a combination of direct mail campaigns (works better on smaller properties < 50 units) or work through brokers (works across properties sizes and least painful approach). 

It seems easier to be a RE agent in an area you're already familiar with, but with such incredibly low inventory I'd imagine it's tough to make a living with all of the agent competition out there.My gut tells me to just find wherever my new job is going to be and then look into the investment side of things.