HELP! Sell or Build?

[Kyle Clevenger]

Hello thanks for reading this short post. I have recently caught the bug and want to begin investing into real estate. I've been doing a lot of studying and reading, whether it be books, blogs or old programs I found in my grandmother's house. But I am stuck at a standstill and don't know which direction to move in. 

My grandmother helped me acquire some land (approx. 0.39 acres) in a lake area with lake access to a highly visited lake in Northern Indiana. My question is, should I simply sell this land, or build a low cost single family home on it?

I own the land at a fraction of the cost to buy it normally and the properties around the lake continue to climb. It seems to be a great market lost in a small little town.  But I feel like if I build a home, it could bring more opportunities to invest long term (with leveraging and otherwise).  While selling the property could give me a little bit of capital to invest right now. I've talked to a few reputable modular home builders and a couple construction companies and both have told me that start the finish the time line is looking near a year. 

Since we have been confused my wife and I have just been focused on our personal finance goals and trying to minimize our expenditures until we know what to do. But I really want to be doing more NOW.

Any advice would be welcomed and appreciated as this is my first investment I really am confused on what to do. 

Thank you!