Just my opinion. 

Regarding infrastructure, start talking to other contractors to get bids and opinions on any potential pieces of land you're looking at buying.

@Mike Dymski I respect your experience and opinion.

I would love for him to not have to worry about a college education and student debt and I would love to be able to leave him a small nest egg when I'm gone.

I've read about your strong opinions regarding Realtors (I share of those opinions, but I also know that most of my clients will tell you that a great Broker is worth more than anything else in a Real Estate transaction or longterm investment strategy), so I won't suggest that you build a relationship with a Broker who will happily have someone on their team build spreadsheets with the hundreds of names you want.

In this area, I'm normally purchasing properties around 30-40% of the ARV so, in my opinion, you're overpaying for this place.  

Every small action taken leads to more networking, education and opportunities. 

Realtor told me a builder offered 139k, which I highly doubt because she also said the builder doesn’t know if he can even build on the 2.5 acres yet so doesn’t make sense for him to offer if he doesn’t know...but just my opinion.

When I help educate them I not only help they avoid crashing and burning, I help myself by competing against more educated investors.

I suggest you start by educating yourself via podcasts, books and networking.