My question is, what tools do you use to evaluate land?

I am also investing in a REI software tool that will help me do the heavy lifting in sorting and sifting areas I am interested in CT.

Getting licensed gave me the ability to learn the industry more rapidly and has become a very valuable tool in my toolbox.

Could be a really helpful tool for you to underwrite creative deals!

Just lost my coach after a year and am looking for my next guidance tool.

These factors help create a ceiling effect--where, no matter how much the house is worth, there's a limit on how much you can charge in rent.And, as you mentioned--if leverage is involved, the debt service of a more expensive property often overshadows how much you can charge in rent.These factors contribute to rent not increasing proportionately with the price of the house (and there are probably other factors too, that I'm just not thinking of at the moment...haven't had my coffee yet).Having said that, there are some extremely niche markets with rental properties that cater to multi millionaires, and which are extremely expensive (certain areas of LA, for instance...probably the French Riviera --where there are probably lots of transient tenants worth tens or hundreds of millions)...but, those types of markets are obviously the exception to the rule...Good luck out there!

Leverage is a great tool as well.

When I use the STR estimate tool here on BP I get the units bringing in somewhere around $45k each per year. 

A real estate attorney can help you understand your rights and responsibilities as a buyer or seller and can assist with the negotiation and drafting of the agreement.Overall, seller financing can be a useful tool for real estate investors, but it is important to carefully consider the risks and benefits and to seek professional guidance as needed.

While tools like AirDNA can be a useful resource for understanding the local vacation rental market, it's important to remember that they are based on estimates and may not always be completely accurate.