I'm thinking of extremely well developed and desirable areas such as Manhattan and certain areas of Chicago where I'm from.

Now we are looking to get back into real estate in the Chattanooga area.We want to get into Buy and Hold real estate to maximize cash-flow and to start to develop a rental portfolio.

Maybe this is an opportunity to wholesale to a builder that can split into lots & develop?

Once you figure out the highest and best use, you can estimate the potential income it would throw off (or it's potential sale price if it wouldn't be an income property and someone were to develop and sell), and then do the analysis from there to determine value.

I drive the area all the time to check on properties, see new developments, types of people in neighborhoods.

You should have a profession litigation search done and speak to the land development office for Nye County.

Is it fully developed with roads and all utilities in?

There is talk of significant new oil and gas development that I'm guessing is bringing in more investors, but we hope to figure out our niche.We are trying to figure out exactly what we want to pursue and in the meanwhile just looking for great deals and learning about what's out there.

I would suggest you find and work with a reputed lender who is well versed in VA and FHA loans.

Anyone know any reputable lenders that offer referral fees for giving them business?