I know Maine is a beautiful state and with that amount of land I instantly though of doing tiny house or container house vacation rentals/ bed and breakfast.

Does your team produce leads?

I wouldn't be surprised if this deal has fallen apart, but would produce a lot of lessons learned.

I would love to invest in my area, but the market in our tiny town recently took off, and so I'm keeping my options open.

(I also have enough salary to cover payments if they become empty) I would reccomend you holdout for something at the very least that produces income over 1%(after taxes and insurance) of purchase price per month.

As long as you are adhering to IRS guidelines (not living in the house, not performing "sweat equity", etc.) you can choose from a wide range of income-producing properties to diversify your self-directed retirement plan.

etc...If you're interested in a cash flow property, make sure you get a high income producing property.

I want to diversify the areas that I invest in, but my strategy is different from yours in that I prefer lower cost properties that tend to produce high cap rates.

My advice is to have the tenants put all utilities in their name and produce the account numbers BEFORE you give them the keys.

In economics 101, the more you produce of an item, the average cost goes down.