I have 6 lots in the same location so all it takes is for one lot to sell at the price I want and the other 5 will follow. 

I feel like I'm gaining a lot of general investing knowledge through BP, but still struggling to know how to locate and purchase my first deal.It would be great to connect with local people as well as receive any good advice.

We could potentially get a national franchise restaurant or a notable restaurateur looking for a second or third location as a tenant in this space.

@Steve R.Where is the land located? 

Highly desirable location, school district, is a "coveted location" by locals because most of the land is developed and it sits off an extremely accessible roadOur current rent: $2,500 + Utilities (the home could almost certainly rent for $3k).

I am familiar with several real estate markets, so as soon as a property becomes available in a particular location for a certain price, I crunch the numbers and then make a decision.   

., the court found that in determining unconscionability, the trial judge may consider: 1) the amount of the proposed rent increase; 2) the landlord’s expenses and profitability; 3) how the existing and proposed rent compare to rents charged at similar rental properties in the geographic area; 4) the relative bargaining position of the parties; and 5) based on the judge’s general knowledge, whether the rent increase would shock the conscience of a reasonable person.

I suggest contacting two or three local property manager's to help assess the marketplace, location and get their opinion on rents.

To clarify, the triplex is located on Kauai?

You can use a 1031 multiple times over multiple years to change number, location, price, and type of properties.