Hi @Bryan Berrios, you have some good feedback here already, but my additional advice is to look into the eviction/tenant/rent control laws in the city, county, and state prior to your purchase.

Harder to control money and properties you can't see especially if they are far away.

seller financing installment salecan retire you from landlord to"the bank" BUT make sure yournote is bullet proof 10-20 pgs.so you can control income taxesthrough ammort/interest termsas the buyer needs you more LOL

Find a fantastic house flipper and loan them money.

This is not without issues (the biggest of which is getting more funds into the IRA/LLC after future contributions), but it is worth exploring if it might be a good fit for you.On the other hand, if you are not looking for as much control, I have a great deal of respect for Quest Trust Company and it's owner Quincy Long.  

Also look at easements (especially on the vacant land) and factor in parking driveways, will the city let you curb cut for additional access if needed or are you stick with what you have.Also look at the number of parking spaces needed for new builds vs what you have (will a new build trigger anything there), and consider if enough electrical is available at the site for new buildings.Is there a Town Approval Board or some other such PITA process you must go through to get building/remodeling permits, and how much control do they have over your actions (plus how long do they take to approve, and is it "The Old Boy Network" to get approved (???).

It’s a fantastic feeling, and I just wanted to say keep going.

There are some pretty nice discounts on many products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t been to it already, the Bigger Pockets blog features links to their fantastic podcast and many great articles: https://www.biggerpockets.com/renewsblog/

The perfect investment for me may be a horrible investment for my neighbor or you -- risk tolerance, expected IRR, control, diversification, etc all vary by individual preferences.

Fantastic advice from @Randall AlanThere isn't necessarily a right answer here though and any answer someone gives you won't necessarily be even close to the right answer for you.