If you are new to the business the most common issue is you're either locking up deals too high or you aren't finding attractive deals.

I would highly recommend talking to Jeff Weller at Coast 2 Coast and Fernando Corona both are also PadSplit hosts but we're some of the first expert lenders .

I agree with the other posters...25% down seems a bit high.

The last thing you want is to have a home run deal that theoretically should be a high-profit flip but is ruined because your contractor screws you over in some form or fashion (late deadlines, inaccurate scope of work, etc.). 

There was a news reporter at the sale and they interviewed the high bidder, who admitted that they had not seen the property, but were certain that they would be building their family home there. 

Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

This is a self directed RRSP or TFSA account that allows you to lend your money out to people with the backing of their mortgage for a high interest rate. 1st, 2nd, 3rd mortgages, down payments, refinances, flipping or renovation money.

I'm in New York but the prices (at least downstate) are much too high for me to make my first deal so looking more upstate and out of state. 

I don't do this for a living and have no real world experience, but at 40% down, even with a 7% int rate, that seems like a high monthly payment.

Real estate agents are not highly regulated in Costa Rica as opposed to North America.