However at 6' I am able to stand in the majority of the room space without worrying about hitting my head. 

I know any major undertaking is 80% planning and 20% doing.

You purchase it to avoid a major cost.

if those are lots in a major metro area with a ton of new construction and infill.like Portland or Charleston or charlotte or other really really hot markets.. this would be as simple as sending it to local builders which are the ONLY buyers.if its rural not much activity it takes a lot of time sometimes years to sell vacant land.and given the fact that there is a pressing family need..

Also, the majority of Title Companies do not specialize in Investor deals so finding one that is Investor friendly is key.I am the head of the Investor Division at World Class Title and we specialize in Investor deals.

I've worked with this population in the past and the majority live in C or D class neighborhoods.

Using your analogy with the 2/1, you need to find it for lets say ~130k and it needs 70k worth of repairs/remodeling to give you an APR in the 250-300k range and make sure you can rent it for >2k a month. in order to make the greatest cash flow you need to find the most rundown houses to fix, or go on the less desirable areas. unfortunately that's where the majority of investors are as well. i'll give you an example of one i just completed. it is in an up and coming neighborhood. some parts are scary, while new construction of luxury townhouses are within a block. it's a duplex with a 3/1 and a 2/1 (i know i said i wouldn't usualy get these, but it was a really good deal).

Selling a property in the first 7ish years with a mortgage is not great because the strong majority of your mortgage payments are interest and the principal balance doesn't go down much. 

I have seen the jumping of the wires many times.. those folks have to be nuts that do that so easy to fry yourself and very easy for the house to burn down.. its insane what happens in those areas and those houses.. its almost like sport to the locals. 

I think it would give a major jumpstart to rentals for me even though the only money made is in equity.