Things such as average cost-to-build in your local market, the different types of construction possible (sip, modular etc...) zoning, cost for permits, engineering & geo reports etc...The second method @J Scott recommended is probably the truest way to evaluate the land cost.

I'm an Engineer, and only became a landlord by the lucky move of not selling when we bought a new primary residence.

Recently I got accepted into a college in Toronto, Canada for mechanical engineering and I'm interested in out of state investing.

I have talked further with the civil engineer.

It just sounds insane to me...as an engineer, i work in an industry where the written formal contract means everything and it just seems strange to enter into the purchase of a property with such a simple form of agreement.Thanks,

And since there's no rule that says you can only do things one way, you can use your experience and extra income to build a self-managed portfolio down the road if you decide a hands-on approach appeals to you, all the while knowing you have a solid income engine already running in the background.Since I hadn't seen it mentioned, I thought I'd through my two TK cents in, for what it's worth.

Im an ex in most things construction, ex laborer, framer, roofer, concrete, ex owner (two companies - framing & roofing, and concrete)... in general an entrepreneur with a couple of successes and a few failures (aka "learning experiences") under my belt.Fr the last 30 years Ive been in the IT industry in sales, sales management, engineering, and architecture capacities.

I have experience in architectural design and engineering.  

I am a college student (soon to be alumnus) studying engineering.

I work full time for an engineering firm but am looking to get my foot in the door in real estate.