Is this too good to be true?

[James Little]

I found a vacant lot in west Tennessee for a screaming deal (I believe). It's almost free it's so cheap. The lot is fairly small and the previous owner was in the real estate game for a while and this is some of the last stuff he is tired of dealing with. There was a small house on the lot at one time but the renters were cooking meth so after much fighting with the courts they ended up tearing down the house. The owner would take care of any back taxes owed after a lawyer did a title search and what not if they found any issues he said he would pay them. There are no utility leins because when they tore down the house they cut the lines at the road so it would have to be reran if built on. End goal would be just flip the lot or put a mobile home on it and seller finance it and collect lot rent. It's zoned residential so according to the county I believe I can put one there. Where I'm confused is that the tax assessor web site lists the lot as "deed acreage:0, calculated acreage:0, land units:1 The home is listed on the assessor website as in a subdivision so I'm thinking that might be why? Is this too good to be true or should I pounce?

[Edwin Fisher]

talk to your land development or city zoning permits office make sure you are able to place a trailer/build a house. if it has restrictions of any kind they will not give out permits. Also find out if this is on city water and sewer system. Drive around and find anyone building in the area, stop and ask if they need more building lots and how much they would give for one describe your lot dont give address if it still seems like a good deal and builders will pay more then you can buy buy it for then go for it! If it is a lot where trailers are permissible you could run a test Craig's list add check the demand over one week. Wish you great luck with your lot.