Hopefully, you can see if they are financial occupants vs physical occupants (non-payers), the turn over expenses, the maintenance the building requires based on the mechanicals, who is paying the utilities, etc. 

It's also going to 100% be a commercial loan product and just as the post above mentioned you should be going local with this type of a product.  

The difference between this type of lender/loan product and a bank will be in process, underwriting requirements, rates, and fees -- so basically everything except that you'll be able to get a 30 year fixed.

Having the necessary physical experience or delegating responsibilities.

Your intent was to hold the lot for productive use with a rental on it. 

Products - and your rental is a product - are priced based on all kinds of factors, including scarcity, business objectives, long-term strategies, etc.

@Eric TilsonDepends mostly on the loan products. 

If it’s like a MN farm it will be a tiny percent if it’s only housing or a section (640 acres) but a much larger percent if it’s housing plus grain or machinery storage on a quarter (160 acres) usually 3-10 acres can be included with the buildings if it isn’t production land. 

In my opinion the most successful investors invest where they get the best returns regardless how close they physically are to the market. 

Each unit has its own tax PID, but the physical address on the PID website is the same physical address for each individual PID, the main building address.