Flipping land - Residential vs Rural?

[Scot Savarese]

I apologize if this questions been answered, searched but can't seem to find this specific question.

I recently discovered the idea of REI through flipping land on a podcast hosting Mark Podolsky and later Seth Williams.

Everything I've read or heard seems to revolve around targeting raw undeveloped land in the sticks. What about residential? Out of curiosity I got a trial subscription to Agentpro247 and checked my hometown on the eastern side of Florida. Thousands of vacant lots are on the back tax list and assessed between $5,000-$15,000. During the bubble I remembered investors scooping up 1/4 acre residential lots for as much as $40-50,000. 

So, if these lots are on the back tax list and motivated to sell, is this a smart property type to go after? I'm 100% new in this, but just knowing the area, the snow birds/New York migrations down south, it seems like a no brainer to attempt to pick up these lots in the $1,000-2,000 range and resell for $6-8,000. Please tell me if I'm totally wrong here. Thanks! 

(Ps in my intro thread someone told me I could hit the @ and name to tag someone and I know Mr Podolsky and Williams are around here, but the tagging didn't work)