A more realistic expectation is 24 hours which will ensure we can arrange any repairs or corrections with a team, handle it in person, etc. be curious how this plays out as I worked for local developer for a while and developed several properties in Alexandria (Specifically old town) and while the city is challenging like any city - they were mostly realistic.

It's a power play. 

Should I play harder and get into land development?  

As an investor in a market where cash flow does not come often and appreciation is a bigger play, I understand your mindset. 

If you’re newer to real estate, role-play scenarios with a mentor or colleague.

I'd be interested in owning a single family home in the area I am concentrated in just to see how that plays out one day.  

Is this a cash-flow play or an apprecation play?

This one will cash flow a little when we move out but it was a bit more of a long term play for us (5-10) years, so we need the time to make it worth it.

Reasoning for asking this is that it could potentially be a beneficial long play on acquiring a property through assumption, and as we go down in interest rates, utilize this monetary benefit to refi as it comes at a mere .5%.

Allow things to play out, unless the buyer closes sooner.