And even this requires some funds - closing costs on the buy, monthly payments to the seller, and other holding costs, insurance, appraisal on the refi, etc.

In rural Ohio ponds are required every so many feet when fire hydrants aren't available.

You said public water was available...would the lots require a septic system to be installed or is public sewer available? 

Because it's required by law

While they often require some level of repair or renovation, the potential for significant returns makes them an attractive option for many investors.Why Invest in Distressed Properties in Phoenix?

My issues with RentRedi have not risen to the level requiring immediate action. 

A land loan for 'raw' land will require a 50% down payment and high APR as you know.

I am looking at different loan options but to break even (not having to put any money of my own in the house after the initial down payment) the current down payment required is that much. 

LLCs tend to be beneficial for financing options if using hard money as it can be required depending on the program.

Hi Grace, I have an amazing DSCR lender that has no seasoning period requirement and an amazing property manager (both a lot of my clients and myself have used!).