"I'm looking for sales within a three mile radius of this site, that are vacant land sales, and within this square footage/acreage range".

There are lowering there asking price every other week in the range from 0.2% to max 2.6% and the Closed Price / List Price Ratios was between 96.5% to 100%  the last few months.

@Ivor Grisel for the future i would suggest you aim to keep your rental properties within the 60-70% range when it comes to the asset and mortgage debt (shuld vs asset).

Purchase Price: $150,0003.5% down: $5,250Closing costs: $3,000Rehab (adding walls/closet for additional bedroom): $5,000monthly mortgage+tax+insurance (quote from lender): $1176 (1176*12= $14,112 for year)other monthly expenses: $300 (300*12= $3600 for year)All-in cash needed for year 1, assuming absolute worst case scenario and I can't find any single bedroom renters for the first year while I am living there:$30,962 After $7,500 room and board reimbursement from employer: $23,462I plan on pricing each bedroom way below market rent at $350/month, to try to fill up each bedroom and cut away at year 1 costs.If I can rent out 1 bedroom: (23,462-(350*12)) = $19,262 If I can rent out 2 bedrooms: (23,462-(700*12)) = $15,062If I can rent out all 3 bedrooms: (23,462-(1050*12)) = $10,862BP Calculator (after year 1) assuming worst case year 1 scenario:Note: I added money to "repair costs" to change numbers to reflect 12 months of mortgage payments I would have made during year 1.https://www.biggerpockets.com/analysis/rentals/df4b1eda-9cde-41ee-afb7-f8d9cdb8724c.pdfBP Calculator (after year 1) assuming mid-scenario where I manage to average 1 bedroom rented during the year I'm there.https://www.biggerpockets.com/analysis/rentals/df4b1eda-9cde-41ee-afb7-f8d9cdb8724c.pdfCoC ROI goes from 5.7 to 8.5.Also, I plan on eventually refinancing to a conventional loan, lowering my fixed costs from about 1200 to somewhere in the 800-900 range, freeing up 300-400 more in cash flow each month and increasing the CoC ROI.Would very much appreciate it if somebody could try to find holes in my plan.

At that price range, @Andrew Gomez, I'd be looking a MFR.

My initial price range for this purchase is between $120k to $150k, the market is very competitive in Omaha for this price range but I am confident I will find a deal with persistence. 

Some help if you have...So I decided to take the conventional route and managed to save up a 20% down payment on the 150k-250k range of multifamily properties(2-3 unit preferably).The savings actually comes from the work I’m currently doing to help with the covid efforts or else it would take me about another year to save up this money again due to the good debt I have right now(5% interest on student loans).To get specific I’m looking at a 35-40% debt to income ratio right now solely from my student loans unfortunately.

This created a glut of homes in the "pre-flipped" price-range. 

If they leave, you rehab and relist at the top of the market range.

Why is there such a wide range of CAP RATES for Multis in Worcester?