Most people selling properties are not professional investors.

However, since I am hoping to sell the land first.

It's like selling pizza by the slice! 

We did this because initially we were just going to build/sell, but I would rather hold on to it.

If not I wouldn't bother selling as there is an incredible amount of money lost in buying and selling properties, so you have to make sure you have a plan to maximize the equity and actually have enough. 

Quote from @Dave Allen: I'm in a bit of a situationMy wife and her parents are selling a duplex they own together.My wife is trusting me to re invest into cash positive investments.We could stand to take as much as a quarter million, and tax free since we lived in the property 2 of the last 5 years.What are some suggestions for markets that would provide cashflow?

From a personal standpoint I target 70% LTV for any investment I have that way gives me ability to sell it if I need too

Recently, my mother has indicated her wish to sell the family property where I grew up in Isabela, Puerto Rico.

Quote from @Devin James: Gross Margin is an important calculation for developers/builders.Gross Margin = Gross Profit / RevenueWe shoot for a 20% gross margin on our New Construction HomesReal #’s:Home Sales Price: $374KClosing Cost: $18,700Cost of Construction: $258KLand Cost: $30KGross Profit = $67K$67K/$374K = 17.9% Gross MarginCame slightly short of our goal of 20%Homes Values and Build Costs are constantly fluctuatingI wish we had a crystal ball build larger homes. average new build in our market is 2200 square feet, 4 beds, 3 baths, 2 car garage and sells for 515k. construction costs lower if design is good and find the median or average home sale price and push that up. my guess is you built too small. 347k is cheap. we target 429-479k price range in columbus ohio for single family homes and also only purchase close to urban core where premiums are 20% higher and we build smaller like 1500 sq ft where price per square foot goes up. 

After selling the property, my real estate investing journey went on hold for several years while my family grew to a wife and three beautiful daughters.