Especially now, I am seeing a lot of people who bought during or right after the COVID pandemic and are in situations where they simply cannot sell their homes for any profit (many of them bought as new construction).

It’s not uncommon for new wholesalers to expect quick wins, but finding deals often takes time.

Is it simply that I find the average sales price of a 5 acre tract of land within a specific radius of my property in the year that I inherited it?

If the partner moves out of state next year they are still a 10% owner, but you simply hire another property manager for that same 8-10%.

look for land with owner financing And I am sure you know this but location and safety will be paramount in the Jackson market there are simply areas the crime is far to high for this to be successful..

Would this be an optimal win-win for risk reduction + tenant satisfaction?

It can potentially be deductible as an ordinary or rental expense, an itemized deduction or simply non-deductible. 

My damn, it's a lot less headache to sell, buy where you are and invest the proceeds somewhere else that is winning.

Quote from @Michael K Gallagher: @Jonathan Greene thank you for the reminder, its often the fundamentals done well that win out time and time again.  

Example - if you buy in the original auction and win at 12%, you accrue 1% per month.