However, (again, from my newbie experience), those who are working with limited capital may be better off turning 3-4 houses a year (and paying the higher associated tax rates) than the strategy you mention. 

I have strong credit (760) though my wife has a limited credit history as she is now immigrating to the country.  

I ask because land is a item that has a limited supply.

I'm limiting myself to one the first year to make sure I'm buying a good deal.

Remember that Freddie limits you to 4 loans while Fannie allows 10.

I live in California and here the law limits non-exempt private lending to 10% annual interest.

They are also the most mobile and 'entrepreneurial' generation, so roots are limiting and scary.  

Resources for FLAhttp://www.amazon.com/Form-Limited-Liability-Compa...http://www.amazon.com/Land-Trusts-Florida-Mark-War...

Is there any particular reason you're limiting yourself to Hobart?

My local market is limited and has weird economic dynamics that make me think about investing remotely every day.While "YES" remote investing is certainly possible, I see that the only way to be successful is to have robust and redundant systems in place in your remote market.