I built my first house when I was 24 (sold it 10 years later) and have bought a couple of chunks of raw land.

The raw truth is when you find a good GC - take care of him, even if he costs a bit more.  

The Financial Samurai blog has some great content around this (though not sure it includes enough of the raw macroeconomic data @Sara Abernethy is looking for).

I purchase their raw data by zipcode(s) to analyze historical/competitive properties and massage it into the critical details I am looking for (need some basic excel skills).  

@Sean Boyle  We mainly buy raw land with an eye toward higher density residential.

Because it is raw land I doubt that it has been reported on anyones tax return.

There are other real estate investments that range in passivity but are all much easier to manage from NNN stand alone projects to ground leases, even raw land in series in the path of progress.  

In particular it appears to me that raw land gets overbid.

No construction has commenced), the Maximum Raw (Approved) Land Value is estimated as follows: REVENUE:Gross Unit Revenue (for the 21 units)Less: sales tax (if applicable)Plus: Any other sales revenue or recoveries= Net Completed Project RevenueCONSTRUCTION COST:Hard Construction CostSoft Construction CostMunicipal/Regional/State/Federal ChargesBuilder Profit= Cost to BuilderNet Completed Project Revenue - Cost to Builder = Maximum Serviced Land ValueSERVICING COST:Hard Servicing CostSoft Servicing/Development CostDeveloper Profit= Cost to DeveloperMaximum Serviced Land Value - Cost to Developer = Max Raw (Approved) Land Value

Type - If you're investment is residential you can move it into industrial, commercial, raw land, etc.