A good healthy forrest nearby will also be a necessity as you can actually survive by eating nothing but leaves and plants (polk salad anybody?).

I want to replace my husbands truck driving income because his health is getting really bad and he may not be able to work at driving much longer.I want to be able to hire good tutors for my children.I want to be able to give generously to help other people.

I have no idea about soil conditions where you are or if the land is virgin or been previously developed.

If you purchase a rental property with 20% downpayment, your tenants will pay for the other 80% ... sure the mortgagee makes a healthy return [ :-D ], but in the end, you own 100% of the property are all but guaranteed to get your downpayment - plus much more - back when you sell.

Australia) we had a young woman buy an old run down building with us in the old market district.She opened an artsy 'healthy' low cal sandwich shop on the ground floor & we figured in a 'meat & potatoes, beer gut' place like Australia she would fold within the year.Believe it or not she paid off her share of the building in less than 2 years.

For example, if you have experience and an understanding of soil and engineering, you might focus only on acquiring properties with minor foundation problems. 

You are right that growth in many sectors is very strong and the rental market is quite healthy.

., if the property cash flows with a healthy return, why worry if its retail or not?

I could replace sewer line during my rehab for 1 to 1500 buckarros.. well worth the dollars in my mind and again this goes to the newbie investor not knowing what they don't knowTAke Texas for example I doubt one TK operator talks about Soil expansion and what needs to be done to keep your foundation and house from going cady wampus on you...

@sam I don't have  a budget yet for foundation. as   @Manolo D. said you need soil report and a survey to see how much excavation, cut and fill, concrete and re bar you need. this could be tremendously expensive. however I saw small projects on hillside has been built for $175 per SF but there was not much regrading there.