The Bigger Pockets Blog https://www.biggerpockets.com/renewsblog/is a great resource for all aspects of real estate investing.

Like Scott said, you can do better.I should have added that rent of $1900 for a 225k prop in Wisconsin is not good.I can get $1,800-$1,900 on the duplex I just got an accepted offer on for 170k which is still not the best in terms of investment opportunities, but I'll be living in half, so the quality of life aspect and the rareness of the B+ neighborhood larger duplexes in my area sold me on it.

You need to understand every aspect & outcome completely before going in, during rehab, and know your options coming out.Is it worth the risk?

There's the intellectual aspect (learning about different investment strategies, niches, areas; figuring out legal and tax strategies and implications; analyzing deals), the physical aspect (to the extent that I choose to do some labor) and the social aspect (networking with other investors; negotiating with sellers, lenders, contractors and potential partners).

The spreadsheet defines how much funding and return I need from each source which then drives how much I need to save into each source to make the plan work. 

I could write pages here of all the different concerns, aspects and steps to take in becoming a Land Developer.Your best bet at this point is an educated willing partner who has the experience so that you don't fall into a money pit before you even begin to develop the property (ies). 

I largely ignore the equity aspect while analyzing a property though. 

An ounce of hard work - converting knowledge and theory to productive action in pursuit of a defined strategy & goal - is worth a pound of theory.

They get clogged and the water pools on the flat roof.I suppose I emphasized the curb appeal aspect a little too much.

I am looking to build a real estate business that is not currently fully defined.