I had no intention to offend and assumed that we were adults here.

This would cause your rental income to be subject to self-employment tax, and the burden of proof is now on you to prove that your intent for those rentals was investment oriented. 

If you are filing as an individual, the individual can pull one such permit every 2 years if the intent is to occupy the property as a primary residence. 

I`m in the Charlotte area.I`ve found a one acre wooded lot which I approached the owner to see if he would sell to me with the intention of building a house on it and he said he would sell to me.I used the Zillow estimate for the lot ( $60k ) and he said that was acceptable.

You definitely should have experience or have the intention of hiring a management team that has experience.  

Answer to this question depends on your intention.  

My intention is to turn this into my first rental property.

Talked to the squatter, he has no intention of leaving until he's thrown out. 

You are correct that the market is hot enough we probably won't have to pay them but we have not intention of just making that assumption and try to budget for it.  

So my intentions of coming to this forum is to request some advice from experienced people in the field, regardless of age.