In Pennsylvania, for example,  you will generally want to form the LLC well before you enter into an agreement of sale due to realty transfer tax concerns. 

Or this land in this suburb was selling as farmland 5 years ago for $4,000 an acre, now it's selling for $25k an acre.Inflation is a general increase of the cost of prices or goods.Candybar used to cost $0.35. 

There is the offer, approval, inspection, inspection release, survey (this is a big part of what slows things down--NY does warranty deeds and banks require a recent survey, and there are only so many surveyors, so it can take awhile), title search, title defect curatives, clear to close approval from the bank (and this generally has to go through some committee that meets once a week or less), scheduling close. 

@Kyle Jiron Just curious on your message above for action plan / investing plan ,  your phrasing made that sound like more of a solid thing or were you just referring to generalities ?

I’d like to hire a general contractor in Bristol CT area who would take the lead but also be able to deal with me at job site and learning how to do many of the jobs myself?

I don't like that area, in general, because South Dallas just doesn't move quickly. 

Properties in the more distant Apache Junction are generally cheaper as there is still plenty of undeveloped land.

If You have any question about the fair housing laws and housing discrimination in general, please call your local fair housing agency or the U.S.

The city in general wants to see investors help turn the area around-- OK, does that mean the city is willing to help in some way?

Generally when you're going to lease option a property, especially with little equity, the property should be in good condition because you may not want to or be able to dump money into renovation of a property and your tenants usually will just want a move-in ready place.