I have listened to the podcasts, read blogs, followed forums to help educate myself on the market trends.

Dennis,  Just a follow-up. 

You may be eligible to exclude a portion of the gain on the sale of the house.The sale of the investment property without any tax strategies will result in the following taxesYour gain will be selling price less adjusted basis(original purchase price less depreciation plus improvements). 

That way you'll have tons of reviews and a proven business model on your property when the lease is up.  

I have been looking at Turnkeys in this area through Norada, so I'm very interested in this thread and will follow your journey.  

See the following for a list of lenders.https://www.biggerpockets.com/blogs/9552/70408-ira...

Most ways to find deals are directly proportionate to your hustle, persistence and follow through.

sure thing.your developer/buyer/builder is going to need to pay out side consultants to prosecute the subdivision plat.. this may include among other things the following depending on jurisdiction:survey workengineering worksoil  testinggeo tech reports.city and state applicationsetc etc.. you want it in your contract that when this developer pays for these items.. that they are also your property.. in other words if he does not follow through he hands them over to you.. because these items are the property of who ever hired the consultant you have to specify in your contract that the buyer if they don't go through with the deal will hand this stuff over to you.this will help U resell if needed or prosecute the map your self without having to pay for these things all over again.

Follow up question.

You are responsible to make sure the timeline is followed.