This is a very high level overview, but I hope you find it helpful.

Happy to get you in touch with a couple lenders that can answer any questions you have and fill you in on the loan products they offer, shoot me a DM if you want their contact info.Great initiative, and you should be well on your way to financial freedom with that level of income!

Most investors are pivoting towards 2nd floor additions to get a decent profit or new construction, but those are about $150-$250 a square foot due to all the work involved and your level of finishes.

They have package levels based on what you are looking to do for the equipment and interior design. 

My one worry in this area is that a law passed that doesn’t allow credit score to be taken into account, and there have been some proposed at the state level (so far nothing has passed).

... and while the ramp up in new housing availability is just now - 13 years after the crash - approaching levels not seen since the ramp up to the crash?

So, Raleigh is a great market, and a difficult one to get into for beginner investors that don’t wish to pay market level rates on properties.

You have three months to decide if you want to buy and the price is held at the same level.

Due to the increased complexity of new construction, vacant land does not see the same level of competition as traditonal 'fix and flip' / distressed properties.

And in CA laws in many counties have changed see  LA county that those lots created before 1920 must meet modern lot standards to be recognized again.In Portland were I work its much easier and its one of the ways to really makes some good dough when the seller does not realize they are sitting on multiple lots that just need and over the counter lot confirmation to revive the existing lot and make it buildable.but in your instance, it sounds like At the county / city level they are not recognizing the underlying lots.. there for the contract cannot be prosecuted and closed as written.