This year I am ready to make my first step towards financial independence.

I also have this same question about a Multifamily deal we have where we will need to purchase land before approvals.. you’d think being in this as deep as we are we’d know this answer but, it’s actually proven to be a pretty difficult thing for me to come across even with speaking to several people in the industry.. my own mother is 32 year lender.

We do everything 100% by the Book, and through an easy and proven process.

First step for you is to study investing in income properties.Generally a rental property will have in the range of 4% -50% of rental income going toward expenses to maintain the investment before debt repayment (mortgage). 

Proven to be too dangerous.So will there be redevelopment?

Admitting to myself and to others that real estate investing is something that I want to pursue with everything I have is a big first step for me.

@David Dachtera. it doesn't work. the simple arithmetic has been proven bogus above.

Anything past that might feel weird.Good job going to your first one, that is a great step that too many people miss out on.

Find a local meetup is your first step.

Apply for a dimensional variance on the vacant lot to allow a smaller lot and/or setback so it can be built upon.Your best first steps are to sketch a plan, possibly with an engineer's help, then contact the zoning department to discuss your idea with them to get informal feedback on your liklihood of success before you spend a lot of money.