Aside from that it is essential to have the pre-existing relationship with the folks that you'd like to work with as private lenders.

The tough part with word of mouth-ing on 506bs is that the sponsor needs a pre-existing substantive relationship with the investor.

Possibly try to see if you can find land with pre-existing septic and electrical to cut down costs would be my suggestion, but not the end of the world if not. 

Pre existing or we plant.  

Did you have a pre-existing connection with the buyer, or did you use something like Facebook marketplace to market your deal to investors? 

I have not been buying anything myself lately, but would not settle for investing out of state either unless I had pre-existing relationships or family on the ground that could help me manage things in a particular area so that I had a local "feel".

Made it very private be adding 90% black mesh around the pre existing and ugly chain link fence and segmented part of the front of the lot by building a wooden fence.

From my discussions investors are finding it more lucrative to work on a land deal and build in the equity they need from a development rather than sourcing a pre-existing property with marginal cap rates, either overpriced or stagnated rent.  

If you have 5 investors and they all live in the same state and/or have pre-existing relationships with you, you should be fine. 

The roof is a "pre-existing condition" and was built into the purchase price.