There are some rare and complex circumstances where I see this would be beneficial.

Keep in mind most REI is a combination of monthly cashflow and appreciation.  

Or in your case, maybe even change classes of property and use what's known as a consolidation exchange to combine the sales into a larger asset like a multi-family or commercial property.

The theory is spot on, in practice however that logic rarely plays out - at least in recent years where multifamily has been crazy.

If they won't let you build on it, explore doing a lot tie agreement so that you can combine the parcels and when you go to resell it, you can ask for a higher price point based on the large lot.

We both work in finance, so we’re pretty comfortable running the numbers.Our combined W2 income is ~$350K, and I work remotely with a very flexible schedule.We’ve saved over $200K across various assets (stocks, crypto, cash), and we live frugally, saving around $100K a year after taxes.

It’s a great way to grow faster.HELOC or Equity Tapping: If you have equity in another property, using a HELOC or cash-out refinance could help cover the down payment without affecting your DTI as much.Seller Financing or Creative Deals: Look for sellers willing to finance directly, which bypasses traditional mortgage qualification hurdles.Scaling quickly often involves combining strategies—play around with what works best for your goals.

With actual cash, you just transfer it. yes, but you can still bid with lender approval - without appraisal contingency - you send in deal (app), it gets approved by lender its functionally the same as cash (except in true lightning speed situations where there is a quick auction with little time to prep but thats generally pretty rare I'd think)Right, but that's not cash or functionally the same as cash because the lender can change the terms at the last minute, as often happens with less experienced hard money lenders.

Ultimately the pictures combined with the location are what sells it.You want to avoid HOAs at all costs.

You just have to know the area  the soils and or get owners permission to do a test if they will allow it ( pretty rare i suspect to be able to do that)..