Jorge,I would recommend that you sit down with a Lawyer and Insurance Agent with experience in this area.

I am now seeing some junk costs, etc, while the property sits vacant.

Let's say it's a house sitting on 20 acres. 

build multifamily not single family or build smaller smaller homes aren't sitting. there are thousands selling in our market in columbus 

Those buyers are not having to do 1031 exchanges most times.In residential as an example the higher end houses tend to sit on the market longer and more of them do not sell at all.

This post is my small way of advising against that and hopefully steering some people straight.There's no shame in sitting on cash, building reserves, and being patient right now.

a local marketing guru who would frequently meet with us to discuss various business strategies to help grow our detail company heard about the offer. at the time he found out about it the current carwash owners had all but signed an LOI with an out of state private equity firm but were willing to sit down with us and hear our offer!

Another route is looking at all the listings that have been sitting for a long time and sending an offer that makes sense for you to cash flow with interest rates and rooms/units rented. 

Land in michigan is less than in texas , north texas.I will give you examples on cost differences.Material prices are the exact same price if not a little less.texas framing price per sqft $2.00plumbing $9500hvac $9500concrete Labor only $2.00 per sqft  Concrete $180yd 5 sackdrywall $10500Electric $8000Ok here are the michigan prices , better sit down.framing $13.00 sqftplumbing $25,000hvac  $20,000concrete is about the same for materialdrywall $20000electric $25000Both quotes were for a 3/2/2 home with 6/12 roof hipPeople in michigan wonder why houses are so expensive , its because of the sub contractors.The plumber only has about $5000 worth of material to do a whole house but yet there still asking for $25000

I pay my property manager A LOT to do maintenance so they still make lots of money while my apartment sits vacant.4.