Unit 2 ( where I live ) is a small 1/1 with a massive 6 car covered car port and a nice work shop . 

So if you TOTAL project cost, land + construction, is 10mm if only using the land it would need to be worth at least 3.5mm.

I would rather I be there for any given project and not the tenant.

Lastly, any new home builders and/or modular home builders in NJ who would be interested in a project like this?    

Project management, SCRUM, additional users would be amazing but a secondary requirement. 

I would certainly rely on a real estate agent to pull true comparable rentals in the area (as opposed to any kind of "Zestimate") to know what your projected rents might be.

-Projected monthly rent = $1,300-I calculated 5% for cap ex, property maintenance, vacancy, and $95 a month for property management.

I only have to do another 640 million in annual sales here locally to over take them :)  Anyway I am closing on a 90 lot project beginning of December and if we can keep the velocity going that should move me up into the top 20.. 

Its always easier to do a project close to home.

There are some areas that I don't like driving through during the day and I've spent a lot of time working in the projects in other cities.