It's so easy to get consumed with chasing the next deal or stressing about everything going on.

You should check the CFPB website (Consumer Financial Protection Bureau).

Also, its time consuming. 

Warren Buffet said: "Our favorite holding period is forever."

It can be tough and time consuming making brand new connections, many people may be willing to make referral, you just might have to ask for it.

The seasoning requirement comes from Fannie Mae, so it will be included on most all consumer loans so that they can be deemed “conforming” and eligible for sale at a later date.

Probably won’t self manage forever, or you should be paying yourself eventually.

New investors like yourself are very time consuming.

This not your forever home.

The lot has value for someone looking to build their dream home on and live in it forever, someone who isn't looking at it as an investment but rather as a place to live, but it would be hard to pull off as a spec home in my opinion for a number of reasons.New home construction has come back stronger than ever here but mostly within two categories: entry level (300-400k range for the area you're talking about, higher in Denver) and million dollar plus custom builds.