Questions on investing in land

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Curious to get input on any who have invested in land. Currently, I’ve focused all my funds towards buying rental property. 

I’ve recently been connected to an individual who invests in land. The numbers he projects on a return are quite promising. Estimated return would be 46% on a 12 month commitment. Too good to be true? Possible on the right area? 

The area is doing a lot of development, in what looks to be a very desirable area. If anyone has experience in investing in land or could provide good resources where that could help with  my due diligence, is greatly appreciate it. 

If you're looking to flip the land and not hold it, you can turn your money quickly. A land flipper can buy cheap at 20-40% off of retail prices (usually direct mail offers), & then still list it below retail prices to move it fast. I've bought and sold cheaper land with returns of 200-300%. Buy for $3-5k, sell for $12-15k, when retail may be $17-20k. Usually can flip within 2-3 months at the longest. Some sell within days.

If you get up into higher dollar land the profit percentages aren't as big, but still very good actual dollar profits. It is definitely speculative, but there is plenty of data in place to lessen the risk if you're looking to flip it quickly and not buy & hold while waiting for the new airport/mall/whatever to show up.