Should I buy this vacation lot with this exit strategy in mind

[John Woolington]

I am new to this REI game. I was trying to find a small cheap lot of vacant land to flip and I found this small lot of in a poor town south of Pittsburgh on eBay auction.

https://rover.ebay.com/rover/0/0/0?mpre=https%3A%2...

I am winning right now at $1,654.00 and the seller said I could have it now if I want it.

I think I may have over bid on this property bc the community is very poor. The immediate neighborhood is very poor. I admit - I didn't do very good research prior to bidding.

I was originally thinking of doing seller financing... But then I realized that if the buyer defaulted, the costs of foreclosure would easily turn this into a investment into a loss. 

So then I thought what if I tried to rent it out with an option to buy at the end. I could start by hitting up the immediate neighbors of the lot with an offer something like this: $175 down and $175 a month with the option to buy for something nominal like $100 after 24 months of consistent rent payments.

Is there a legal way to do this in Luzerne Township, Fayette County, PA. 

And if so does that sound like a remotely appealing it feasible offer to one of the neighbors who is probably low income.

Thanks,

John Woolington