I want to limit the down payment outlay so I'm willing to move into the new property (trying to conserve as much cash as possible for possible renovations).

Much like STRs should exclude it to do valuations, or people saying they've made 20% ROI in 2020-2022 need to realize that it's a lot of fluff. 

Much appreciated!

If developing, you will need a full team for entitlements and permitting (civil engineer, survey, architect, etc.).  

I'd just run your numbers on the new development i.e. how much can you get land for, building permits, water/sewer hook-ups, etc. 

You only need a place to track tenant information, payment history, maintenance, etc.

Maybe they know a client who can't get the price they need.  

There is only so much time in a day, week, month, year, so remember your focus will need to be divided up between real estate investing, family, and enjoying life.

We need to deal with all of this, as the garbage collectors won't remove it.

Although this is working out ideally, there are some tricky components to this.As of right now, the seller needs to move immediately and is requesting for at least 100K from the 180k that would be due in advance as he is trying to close on a cash only property.