I mean no disrespect to others who have developed their skills and experience in acquiring properties in out of state markets.  

Develop a partnership with other types of capital partners?

Ultimately I have an interest growing a portfolio and possibly dabbling in other types of properties and strategies (flipping, development, etc.).My primary strength is my analytic ability, whereas my primary weakness has been using a conservative approach.I am excited to continue learning and potentially working with BP community members.Drew

Split the land and sell/develop into additional lots - The value here would depend on what it costs to split the land up AND get appropriate utilities to it.  

I am thinking something along the same lines as a developer fee. 

They usually make sens for VERY large developments (100+ units) because of all the CPAs and Lawyers you have to hire.This is just the case in my experience.

Do you have any, or all, of the following experience and skills:Blue collarbackhoelicensed home installertransport driverelectricianplumberconcrete workremodelerOfficeresident intake and screeningresident relations/community relations/governmental relationsbookkeepingcollectionsWhite CollarCompliance Management SystemDeveloping and Implementing a Marketing Plan that makes sense for the style and location of the community you buy.Selling homes at a profit and closing the sale.Establishing some legal and compliant manner by which your prospective residents can obtain financing to purchase the homes you are selling.For 4 and 5 star communities with prospective residents who average credit score is above 660 you will need to develop good relationships with outside lenders.For lesser communities or for communities where the marketing is geared to draw residents with credit scores below 660, you will need to develop some form of seller finance.Developing consulting or vendor resources for areas where help is needed.The more you already know, the less outside help you are going to need.

But by making calls to other people we knew in the industry, our contact knew someone that develops on that side of town and we were able to assign it for $710,000.

Golf participation is down quite a bit from the peak years and some of the courses around me (Illinois) are not doing as well as they were.I think there's a better and higher use for most golf courses by converting them to development to be honest.......But your example suggests thats not always true.

Now it has taken years to develope the list that I use and I am always updating it.