I'm Under Contract on a School

[Michael Hayes]

Need some help analyzing a deal a partner and I are under contract on.  Long story short, it was basically handed over to us.  Address is 3282 Millington 38127. It is a 4.3 acre stretch of land, and a former church used to be there before it was demoed.  The parcel directly to the right of it is a school that is also needing major repair or demo sitting on another .9 acres.  We're under contract for $50,000.  We were first looking to possibly partner with a developer, or possibly just sell as-is.  No idea how to price this thing or how to approach it.  Would appreciate some help from my Memphis locals.  We are also currently in search for a lender just for the purchase.  https://drive.google.com/drive/folders/1oi-cXdiRWfgu9Hhean3x...