This would allow us to come to the table with less funds out of pocket on the front end when starting construction.Is the best way to complete the transfer of ownership through a traditional sale registered with the county? 

While you may be willing to live without heat/ac or hot water for a week.

Infrastructure (eg water, sewer, electrical supply to the house) should be the landowners' responsibility. 

Without solid knowledge on this subject, you can easily end up in hot water. 

What do you bring to the table that would make an investor-partner work with you? 

Be sure to have the gas, water and sewer lines inspected as these may be dug up or collapsed - and very expensive to replace/repair.

The yard looked like trash, plumbing stack leaks and multiple water heater leaks.

@Jonathan Blanco, I'm and investor and a licensed mortgage broker so I've been on both sides of this conversation.I would look for a lender that (1) listens to you and understands your strategy and needs (hint: it's not always money), (2) has experience working with clients executing your strategy and brings more to the table than just cash - be it advice, relationships, deal-team partners, etc., (3) gives you viable options and explains the pros and cons of each option and (4) you enjoy interacting with - this should be a relationship, not a transaction.Once you find a few lenders like this (and you should have relationships with more than one), then you can start comparing rates and fees.

The interior was made up of high efficiency HVAC systems, contemporary lighting, and electric water heaters.

Coasting means taking risks off the table.