I would also add that if you're planning to pay cash ( and actually leave the cash in the house), if it was me I would 100% skip flood insurance in that area.

When a property is actually identified I would run the actual numbers for the rehab.

They split the profits 50%/50% while we suggest one or the other have 51% actual ownership, for decision making purposes.

While this sounds great, how does this actually work and does it actually turn a profit?

So maybe you could try to find something like that and do Airbnb in the meantime.Subdividing is not super cheap, and vacant lots typically sit on the market longer than homes do, but it could be a good opportunity if you have funds available to purchase the lot and to pay for subdividing services.

I am located in NC, so the service can be virtual. 

You want to do that more than the actual deal.

Actually, this is how I started my RE investing in 2020, I just listened to their Podcasts, read forums, and joined virtual boot camps.

Presales could actually be a great way to raise gap funding, but buyers might only want to do this with major builders.

I would suggest using our Find a Lender service which is free for you to use in order to find a trusted and vetted hard money lender directly from BiggerPockets.