John Kevin Hunt,Nothing is as simple as the two choices you presented.  

The ones I would say are not would be expenses associated with hunting down new deals and, if you set up as a C-corp, fringe benefits like health insurance.Now, with a classical 1% rule deal, say you pay $50K for $500 in rent.

Well Tony G hope all is going well, I'm a little late to the parade but as I was reading this thread I kept thinking the problem was finding the deals and you were severly limiting your hunt, then Bryan A finally broached the subject.

I'll just say that the location hunt has been a real challenge.

Find a project you believe in, write it up and go hunting for investors.

I been using zillow, realtor.com, etc etc to do my lot hunt.

So, take a step back, look at your financial situation, your personality, your goals, etc. and then make an informed decision.Happy hunting.

Good luck on your hunt, connect with me.

The area also has a very low 4.7% vacancy rate, which means its has some demand.Happy Hunting!

Lynn,I hunt off-market land deals all the time.