I’d like the extra income to help us either pay off the property faster or save up for the next house.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

I found this article useful. https://retipster.com/real-estate-data/

Was more interested to know about how one would go about evaluating this deal based on the available data.

Too small of a project.Your other two sites could have potential but right now I am missing the powerline and substation data for those areas.

The benefit of having a software is that you can always go back at your historical data in case you wanted to do some analysis on your business. 

@Tara Faulks post your data happy to help validate it.

The article tracks where millennials are flocking to over the past 5 years according to the most recent US Census data, published in Fall of 2018.

If there's a hole, it may be a red flag.b) sensitivity analysis: I examine all the assumptions, and make sure I can live with the worst case scenarios.c) "Stall and see": if they are getting money over multiple years, and there is no penalty for investing later, I would usually wait so I get some real performance data, versus having to look at theoretical pro forma information.d) Recession stress test: I will not invest in anything, until I subject it to recession level stress and see if I can live with the result.

Appraisal will be based on market data and property condition at that future time.