One thing that we were not prepared for was the new lender required that our tenants have a signed lease agreement before we could move forward with the new house.

I have also considered this, but there's only one shower and I am not prepared to share the shower with a tenant :).

Your scattered approach is going nowhere fast (analysis paralysis) and is highly likely to result in someone taking advantage of you:(Recommend:1) Figuring out what investment approach suits your skills & risk tolerance2) Determining where in the US to apply your chosen approach3) Learning everything you can about that market4) Networking & building contacts & team in the market5) Doing a "test" investment in that market to make sure your expectations are met6) Investing more if your expectations are met.-- If not, go back to step #1 as you many have chosen the wrong approach!

Due Diligence and Feasibility Studies - What studies or tests are essential before purchasing raw land?

Time is critical, especially in competitive markets.Clear Offer Terms - Present a firm offer with terms that make the seller feel confident that you can close fast, with minimal contingencies or proof of funds.Due Diligence Preparation - Have your financing lined up and know your repair/rehab costs in advance so you can move quickly without second-guessing.

I have started soil tests on 12 lots costing me a total of $5340 for the permits.

By investing in properties that stand the test of time, you set the stage for financial success that can be passed down to future generations.Now, listen up, my aspiring real estate moguls!

@Roberto Kattan-make sure you have your  financing  / loan pre approval completed  if you plan to  move  forward with purchasing a rental ....this  will  allow you to be prepared and also to be more educated on the  current  numbers  ( rate / cash to close / payment  etc ...) 

@Nick RutkowskiA subsidiary of Overstock.com, Medici Ventures, running bockchain test pilots in Africa.

Mailing a few thousand or fewer pieces of mail or less per month, you won't have the statistical significance to test and understand what is working vs. what isn't.