That could pose a lot of issues with zoning and permitting making things more complicated. 

Check out the zoning by going to the counter yourself.

You will need to keep the parking parameters in place so you will have less room to build than you think, but still sounds like plenty if the impervious cover rules and zoning allow it.

If I remember correctly, East Coast Tax Auction LLC and Red Rock Capital were two of the high volume bidders.

If they say 'no', that is immediate red flag and I will ignore that.Do legitimate and genuine private lenders go through 'Escrow' process ?

Is it in a flood zone?

After establishing this, the next most important aspect of this land would be its zoning and restrictive covenants.

When using SB9 to split a single family zoned lot into two lots there is an occupancy requirement of 3 years from the time of the approval of the urban lot split.  

Here is a good overview of Sarasota & Manatee, keep in mind North Port has no rental restrictions at all and the city of Sarasota is 1-week minimum, if you are Zoned RMF on the barrier islands STR use is allowed, lastly I would check out GulfPort by St.

Zoning in cities against certain property types and sizes, etc.