found a really cool piece of property with a small pond on it and know it would be great to develop it into a small subdivision. have a comparison to a Ryan's home property being developed and per arce the cost is the same.

Personally I use ActiveCampaign for my biz list (not specifically RE) because it's not too expensive for a small list (I pay $16/mo) but has more features and ability to make more advanced automated sequences.

By comparison, this sounds like a more advantageous situation than buying out of state. 

What are the sequence of things I should be doing from today onwards to make this happen.Thanks for your time Gaurav

Do you think Miami is a good location for a second home investment, and represents a good return in comparison to the riskiness of this deal?

The 30% rate he's mentioning is an annual rate, I'm sure, so the comparison is valid.Are you borrowing 100% at the rates you mention?

Take a look where you live, see rent vs own comparison, account for all the things after tax and see if it makes sense to get your own pad.As Elizabeth said, you can get an FHA with 3% down or so (see the limits for your county).

In order of importance I do, Style of home, square footage, bed/bath count, basement comparison, then I move on to things like lot size, on or off street parking, garage, etc. 

Miami is a no-go—at least for the moment—as asking prices are exaggeratedly high, especially in comparison to assessed values.  

A blanket comparison of markets (or formula) will not be equally applicable across the board.