Hi @Jay Hinrichs,
The land was going to tax sale due to delinquency. I came in a week before the auction and offered the owner a deal to pay the back taxes, line their pockets, and I get the deed to the land in return. They agreed.
Homes in the area recently sold in the range of $120-180k. Some as high as $300k the very next town over. The land is right on the border between both towns.
I was quoted by one contractor for a build price of roughly $115/sqft for rental ready quality. That was my only quote so far so I'm still in the market for more.
$30-45K/lot for sewer and water?!?! That number is scary high! I was not expecting that to be so expensive!
The median sale price for the area ranges from $104-112/sqft. for the two towns within 2 miles of the property.
I'll do more homework on the numbers, especially considering the potential high cost for utilities set up which was not in my original calculations.
Your feedback is extremely valuable! Thank you!
And thank you @BP for having a platform for newbies like me to learn from the Pros!