It would still be hard because it wouldn’t be a traditional 1031 unless the land alone is worth more than your sale.

Usually a post like this or even remotely similar to this is posted by a newbie or someone that has a coaching program for sale. 

I found this deal listed for sale on LoopNet.

You could structure the deal with seller financing to bridge the gap.Possible offer structure:-Purchase Price: $170K - closer to actual value-Down Payment: Low or zero down to conserve cash-Interest Rate: 3%-5% - or better yet, 0% if the seller will agree-Monthly Payments: Interest-only or deferred until the sale-Balloon Payment: Full payoff in two years when you sellIf he wants $200K, you can still make an offer of:-$170K purchase price + $30K as a second lien due at closing-Seller carries $170K at a low interest rateHe would feel closer to his number, but you still keep within reasonable investment limits.2.

Also, not very easy to use typical methods of valuation like comparable sales - there is no public tax assessor's website that you can just freely grab this from. 

., zoning exceptions for business in a primary residence, city lots for sale for under $15,000.  

A good local agent should be able to help with some of those updates needed for the exit sale. 

Where I am in New Jersey, the numbers wouldn't work out at all, but those numbers are good on your sale and rent for the build cost, especially since they should appreciate there in Little Rock steadily.

of course the sale of hurricane damaged houses also confuses the issue (my house had no such damage but is only about 4 blocks from houses that did). 

I wanted to be able to help educate people, especially the underserved community, about real estate, whether buying, selling, and assisting with the process of foreclosures and short sales.