Originally posted by @Tyson Hill:Report is hard to read: $14000 income, $680 total expense (repairs and management).I'm sure that the owner of 2526 E Hampton Ave, Mesa AZ would be thrilled that you are sharing their personal financial information in public forum.

Not to say there aren't people who are great developers and make money doing it, but I would say it is not the best way to get started in real estate.   15 acres of raw land sounds like a deal for someone who has made plenty of money doing a variety of deals and now wants to go to the casino to take some of those winnings and double down.Only you know your plan.....I think you start with what the city wants to be there. 

I did enjoy going to all the casinos with all the great poker action.I also enjoy buying 35k properties that I can rent for $800. 

Here in Ohio 50 million dollar license fee to start a casino.

Along comes a buyer that offers less than the asking price and the agent, being the one that set the price, isn't to thrilled having to go to the seller and explain that they, the agent overpriced the house and maybe it's not worth what the agent told the seller. 

A former Structural enginee:  designed airports, casinos, 1M+ sf industrial buildings.

The main difference between you and I might be that I'm using a property manager to take care of bed bugs and toilets, which goes against your final point about having better luck at a casino.

Right now we are thrilled with the investment.

My name is Jasmine and I thrilled about being a new member of the BiggerPockets community!

You mentioned this property is near new casino construction.