There can be a lot of locked up value in them, but very difficult for a new out of state investor to manage.....even for an experienced out of state investor for that matter.  

To clarify, I was wondering if it is better to get a HELOC now while I am still living in my primary residence, as it will be more difficult to get equity out when it becomes a rental in 2019.

I'm worried that as I continue to scale, my DTI ratio will make it even more difficult for me to get a mortgage on another house.

Do you think it will be more difficult finding tenants being SO far from Dallas?

If you are a softie and believe hard luck stories and have a difficult time saying no .Then being a landlord isnt for you .  

I tend to joke that it’s difficult to underestimate your first year’s performance. 

Municipalities will Not be common buyers for vacant land....not sure how you came to that conclusion.The vast majority of vacant land you can buy this way will have No value to a builder.....there is a reason people so often let these properties go to tax auction and it would be very difficult for you to determines the paths of growth and what would be desirable to a builder/developer.

In 3 years I assign my Option Agreement with the Seller to the Buyer for the balance owing to me.

Thing is many are A-class neighborhoods so generating cash flow will be difficult as the market pricing is supported by owner occupied purchases.Is Parma a good area for investing?

. - but it is far more difficult than you probably expect.PS.