He can try to find a real estate agent to sell that 1/3 portion, but it would probably be beneficial to all 3 of you to let the agent sell the whole tract. 

Sure, about one in 2000 times, by someone experienced enough to recognize a very unusual situation, having the capacity to act on it, having the financial strength, experience and tract record to be able to attract the needed capital, having the knowledge and ability to structure the deal, having the ability to manage and or reposition the property after purchase, and having the capacity to carry the negative cash flow until turning the property around or obtaining lower cost financing.  

All in less than $120k; 6 months later $325k + $75K = $400K.I purchased a tract of land on a major suburban thoroughfare (with a partner) for $155,000.  

It's always interesting to see what choice(s) were made after viewing the suggestions and then having some time to digest the options! 

We have a lot of timber tracts that are adjacent to state and national parks.

Once my contractor took over the project, he was able to sync everything up and keep the project on tract to complete it within a 10 week period. 

The bidding wars on housing in the treasure valley is also very common.I know this is a lot to digest.

Small lots with or without a small house to large tracts of land with large structures or multiple structures. 

(We don't usually run city tracts as our grid systems and/or lines are hundreds of acres and usually in more rural areas).

I don't think starting a small place, say an acre with 50-75 units would be a bad place to start (can buy smaller tract of land, closer to town for cheaper) also less risk due to the overall cost...I created a spreadsheet that I use to analyze existing storage units.