Ideally you not only got all your initial investment out but because a VA loan was used at a high LTV you likely got a lot more than you invested out as the refinance likely is at 80%LTV. 

Ideally, I would like to find a company that is familiar with double-closing and assignments of contracts. 

It might weight one location above another if it's already on your list of possibilities for other reasons, but it wouldn't be a determining factor in any way for me.Really, you can do real estate anywhere in some shape or form, so you can move where you want and figure out how to make real estate work there, or move where you want and figure out how to make real estate work for you "long distance".  

So that was less than ideal but at least I didn’t have to evict them

ideally the contractor's expertise is doing contractor items including rehabs. 

Your discount factor reflects discount on the price. 

I deal in the home building processes with my current full time career, and would love to get my first deal on the move.

You can also contact local wholesalers and join their buyer's list for off market properties that would be ideal for a buy and hold investor like yourself.

If your deal needs rehab work and the value will be increased substantially then a short term loan would be ideal. 

The lot would be ideal for a modest 1,500 sqft, 3-4 bed/2 bath home.