Both towns are have some excellent neighborhoods.

Exciting stuff, let me share this with you, exotic strategies presented as if they are applicable to any deal, any time, with no or little money........it's the bait we see.And, no surprise, I just now visited your profile, low and behold, you're a coach and author of real estate books........guess I was right.Now, that isn't a bad thing at all, I also see you're a CPA, excellent!  

A HML will likely make a loan to a first time investor IF that person knew their stuff excellently (do your homework) and had a realistic project scope of work (keep it simple).  

You probably will end up tracking some of the numbers in Excel (or other software.)Most of us do bookkeeping at an office/home, not necessary when we are out, so this is probably a minor issue, but if you buy QuickBooks Desktop version, then you can only enter/view from where the computer is (unless you set up some type of remote access.)

It’s an excellent strategy for the communities you mention due to their high costs.My wife and I are currently househacking a 4-unit in Waltham and we used an FHA loan to keep our down payment low and allow for us to make significant capital improvements.

🏘️ This can be an excellent way to jump into your first property (especially a househack) for a smaller $$$ out pocket if the situation fits and the numbers work!

After many meetings, we settled on a price of $750K for 2 of the parks, a 30 unit and a 13 unit + a SFH.Both parks are on city water/sewer direct billed, excellent location with strong demand, and a lot of upside in terms of low rents, addressing deferred maintenance, etc.

In this case I would need to find someone who excels at finding the deals, or working with a wholesale to help process/build cases for houses they have contracts on?

It’s probably worthwhile to get a land planner to weigh in.Even though 70 acres works for 200 homesites on an Excel spreadsheet, the reality of how that land is situated may allow for far fewer.

@Austin Latty  Excellent advice provided above here for you!