My overall check list when viewing a property consists of looking for major red flags, such as, damage to the roof, foundation/structural issues, holes in the wall, water damage, etc.

Water / Utilities - Will you be billing these costs back to the tenant? 

Because the water in Tampa Bay was full of sewage and it smelled awful on the Bayshore, all day long.

HOA of $263 per month, includes Water etc.

The lot is valued anywhere from 75k-200k, and has no septic permit, water well or tree clearing.

Get your furnace/AC/water heater etc. serviced on a regular basis.

When I had a pest control expert come out to look under my primary residence, I crawled under there with him to look for fungus/mold, termites/ants, and water issues - I learned more doing that and listening to him than I ever have watching Youtube videos or reading forums.If you have structural specific questions regarding conventional residential framing, wood/masonry/brick/concrete construction, or just general questions regarding the integrity of a property, shoot me a direct message.

We have sold about 50mm, but banked depreciation offset the gains (without having to use a 1031), so its important to note that blanket statements in real estate businesses hardly hold water, as structure is very important. 

I need a ton of help but mostly conservative costs projection to build a  5 home subdivision, average lot 1.2 acres, longest distance to run electrical wires, water lines, gas lines, sewer lines would be 1200 feet, install a double road, fire hydrant, 50-75’ driveway from road to each house, 5 street lights, cable.  

However factor in utilities because if it is in fact "raw land" you have to think about things like sewer, water, electricity, and gas.