Deceased family member property tax default

[Theo Kirk]

Hello and pardon the long post. I'm new and found your group researching pros and cons of acquiring property of a deceased family member that is behind on taxes.  

I and a few family members were recently served regarding  land owned by a deceased family member that is in default. The property is in a low income neighborhood that is undergoing some revitalization.  There are 5 new homes being built on the same block.

Taxes and fees are about about a third of market value of the land.  The rest of the family do not want to bother with it however I am considering paying up and having the property transferred to me with the help of a attorney friend. I have experience in managing construction of my current home and am comfortable working with trades and doing some work myself. 

I am thinking of building a rental home. I will need to take out a loan for construction and should have a 40% to 60% equity position at completion.  I have some reserves to handle a down payment and monthly payments for at least 16 months.  Distance is not an issue and I work remotely so can manage oversight of some construction between meetings.

I have always wanted to engage in real estate investments and see this as an opportunity however want to be realistic.   Is this too much for a starting investor?  Should I acquire and sell the land or just get my name off of it?

Thanks