@Eric Smith A 1031 exchange with a related party is possible but comes with strict IRS scrutiny and holding period requirements.

The last few years have been great for investors/homebuyers who bought pre-con, but looking back to the few years after the 2014/15 boom, this wasn't the case, where many had actually committed to buying a property that wasn't quite worth what they signed up for closer to closing because the appraisal weren't matching the contract price, requiring a cash top-up.

The stabilized properties operate fine without me but the development side of the business requires me 24/7.

While they often require some level of repair or renovation, the potential for significant returns makes them an attractive option for many investors.Why Invest in Distressed Properties in Phoenix?

A deposit on that site is required to bid.

And this might indeed require some time to pass before doing that.You could still create a single member LLC with either you or your wife as member. 

If you don’t know the legal notice requirements for your market make sure you figure all that out before you do anything. 

For example, places like Illinois and Oklahoma have specific rules requiring a real estate license for certain types of marketing.This specifically for flipping land using Transactional Funding.If you’ve done this before, what states have you found to be friendly toward this approach?

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Now, some states require an attorney to review contracts.