I am interested in using the BRRRR strategy but have very little knowledge on what repairs/rehabs cost.  

My thought is I can buy the raw land, and sell it back to the owner of the main parcel, who recently purchased it from a bank as an REO.The property has access to a main road without going through the other parcel, but is currently behind a contiguous fence from the other parcel.Does this strategy make sense, or am I putting myself in a poor position by doing this.

It all depends on your strategy and current needs.  

For example I would consider anything with less than 20' clear height functionally obsolete as industrial buildings are growing in height every year to accommodate new high bay distribution strategies. 24'+ is ideal.

I need to come up with a good strategy for tying up this property while managing holding costs & risk (both the risk that market shifts drastically and the risk that I lose the seller)CONTEXT: I'm an investor in Bergen County, NJ - my direct mail turned up an owner who plans to move out of state at the end of the school year (she's a teacher retiring).

My exist strategies are 1.

Some of the "no money" conversations and strategies also depend how liberal you are (shades of @Jd Martin here) with defining your "own money".  

As far as financing goes, I need to look into low and no-money down options, and was hoping to get leads on reputable, trustworthy HML's in the Boston, MA area and any other suggestions on creative financing strategies for fix and flips! 

We are currently developing a bid strategy to maximize the potential sale price of the underlying property."

I want to start using the BRRRR strategy on vacation rentals through airbnb or VRBO, but will I have issues when I go to refinance?