I plan to start with a single home to test the waters and see if this market is for me.

Assuming the rents cover your expenses, in 30 years when you’re in your early 50s and the mortgage is paid off, and you’ve done the smart thing by raising the rents over the years, you will be sitting on a multi-million-dollar asset that cash flows thousands of dollars per month at the cost of a measly $20k or so out-of-pocket when you were 20-something.

Thanks for the test!

You can also see a fence in the long shot, we would like that raised as well to offer more privacy.We are looking for some DFW contractors to take a closer look and give us a bid.

I'm 1/3 of the way through (actually have my first of three (class) tests this coming Monday).To support my real estate habit, I actively listen to (of course) BP podcasts. 

If it is a lot where trailers are permissible you could run a test Craig's list add check the demand over one week.

I would agree this will be tested again.

Additionally I was going to use a tip from one of the books and settle on a price, then raise the offer ~2% (assuming it's still within the budget) and having the seller pay closing.

Sorry to not answer you question, but I am also curious to anyone who would raise their hand to the question, are you interested in raw land?

They sound to me like they're already testing you, yet I landlord in the type of place where people will more likely not be honest than they'll be honest, so call me jaded.