Other considerations as I see it: holding costs for complete rebuild may be longer, up to 3 or 4 months?

What is the cost to rebuild? 

Currently, we are just holding onto the land, but plan on re-building a house and more properties to rent out on the land.

I'm not an appraiser, but personally, I would need to have the risk of not being able to rebuild the structure as is, discounted in the price.

(If you like the post make sure to hit the VOTE button so I know I am not just doing this to keep myself busy:) )Anyway, rehab costs of the interior of a unit range between about $3000 for Carpet & paint, cabinet refinishing and new Formica counter tops.You can easily take it to over 10K if you want to put in tile, replace all cabinets, add stainless appliances, square decora switches and plugs, put in granite counter tops and rebuild the kitchen fluorescent tube box into recessed lighting and put in a new bathroom. 

I have been living in Asia running a scuba diving business for the past few years and will be returning to Salt Lake City in August and I am looking to start investing in real estate next year.I have to rebuild my credit as I have no history because of the past few years so my initial focus will be on that and getting a job that let's me save for a down payment.

One of these burnt down in 2016 and I was able to manage re-building while out-of-country. 

But to retire with a highly leveraged portfolio scraping $100 per door while holding millions in debt is not a wise plan and can leave you destroyed at a time you cannot rebuild again.  

And at the time, I am sure all thought we would be the export "king" rebuilding the world for generations to come, which we were.

I recently finished up a large house hacked duplex we declared as our primary residence- complete demo and rebuild including the addition of a second story.