Eric,  we hope to start this fall. Already own 9 acres, and built the most important thing, my 4,800 sq. ft. garage.

Todd, in Tennessee, and I think most states are similar, you'll have a bunch of state and locate regs to meet, (minimum lot size, access requirements, environmental health department approval if you are on septic, etc.) Here in Tennessee all property line modifications and subdividing have to be approved by the local planning commission if any of the land falls under five acres. Cut one acre out of five acres, and you have to have both tracts approved. Cut one acre out of 20 acres and only the one acre has to be approved. You'll need a surveyor to cut the tract out anyway; he should know all the local regs.

Also allow yourself some time, it may take 3-6 weeks after the survey is completed.

Hope that helps.

Stan