I apologize the post is a bit general and might be premature, but since I am new and eager to learn, I thought I will share this post with you and hear from the community your thoughts on if it is profitable to invest there since the house appreciation rate is fairly low.

I see they're both occupied, so I assume that's what your current tenants are paying.Rentometer shows a different story, that you're on the low end on rent.

I'm asking 275k for the lot, but I'm convinced even that is likely low given the direction homes are going. 

There are some low cost online PM companies and flat fee structures out there.

Near our quad they appear to be putting in low income housing without ANY parking. 

I figured I would appear as a low risk to a lender, but I've been shocked by crazy stuff before, so part of me was concerned.After doing some more research, it looks like I need to look into a "secured loan". 

Maybe a local lawyer would provide a free or low-cost consult and give you the legal details you need.

You probably already know this but it might be worth the time to set up an account with your local building materials supplier (Not lowes or HD) those folks always have their ear to the ground and can often recommenced better options. 

Why offer anything at that low of a dollar amount?

Another great way is for you to find a property and use your FHA 3.5% down which is very low and try to house hack that way.