I'm a relatively new buy-and-hold investor from the Seattle area and wanted a second opinion on a deal I recently passed on (either so I can sleep better at night knowing I made the right decision or re-open the conversation if appropriate).The property is on Camano Island, WA and sits on a large lot with sweeping views of the Puget Sound. 

I don't have the appropriate funds to allocate towards a site and without them, that marketing route is a waste of money in my mind. 

You need to know this so that you can make the appropriate offer during each market cycle.

I'd appreciate any perspective here or perhaps a suggestion about which subforum is most appropriate for more general and theoretical inquiries.Background:I have zero interest in day-to-day property management, zero interest in fixing properties, little interest in finding good values on the market, and little interest in spending much time on this after doing the research.

That stated, the archer and knights (insurance) need to work in conjunction the walls and the moats legal entities) to appropriately protect your “stuff”.

Just like you i'm also starting but the difference is I don't have pops giving me money to start I'm using my job income to produce results, that being said it's seems like your all over the place if i where you i would go to the learning tab and read the beginners guide to real estate then decide on which niche you want to focus on and then develop an  appropriate action plan taking steps to get you where you wish to be. 

So I really want to be smart about this one and have done a bunch of analysis but just not sure how the number stack up to other good deals and I don't think either of my prior two purchases are appropriate for comparison as they are on two ends of the spectrum. 

Conversations are extremely easy after you send all appropriate docs. 

The issue I was considering is how best to allocate a large amount investment capital -- leveraged into as much RE as possible, in equity, under a mattress, in some other investment, or some combo thereof -- with the goal of appropriately balancing risk and profit potential.

Care should be taken to include specifically all aspects of RE, buying, selling, leasing, contracting, demolition, rehabilitation, investing and management as at times, operating out side of your business purpose can lead to problems, legally and in accounting and tax matters.