Purchase price: $180,000 Cash invested: $75,000 I purchased land near the ski resorts to build short-term rentals.

It cost us a lot of time and money to get it back in shape. 

Columbus has ranked on the top 10 markets that outline that for the past 6 months at least. the best place to buy new builds is in higher priceopint markets but where the costs haven't gotten out of control. besides that I'd recommend working with a vertically integrated land development, real estate development, and new construction firm or design build firm who also understands market conditions. 

We had a horrible experience with them when we were trying to wire funds out for escrow in the purchase of land.

Tax sales sound great but in FLA its tax certs which are a business unto themselves the tax sales are better mainly land though.. we have done pretty good with land only in FLA.

We got the land to build this by subdividing it off other rental properties we own.

Or general repairs of $300 or less.You should ensure however your plumbing is actually in good shape.

What are your thoughts on buying vacant land?

Any investment real estate will work as a potential 1031 exchange target, including LTRs, apartment complexes, commercial properties, undeveloped land, DSTs and so on. 

If not I can resell on a land contract so I retain the deed.2.