It's only worth whatnit will appraise for for the value of the houses and land.

I’ve been a real estate broker specializing in multi-family properties in the Cincinnati, OH market for over 20 years.While I’m not sure where you’re located, in Hamilton County, OH, where I work, the county auditor’s website provides land usage codes for all properties.

If you back out the cost of land $1,800,000 less $200,000= $1,600,000.Followup points:1.

Maybe you need a land trust.

The goal is to keep these for rentals.I currently own the land personally and am funding the builds with a combination of HELOC and cash - no bank debt tied to these properties specifically.

Seems like the few people I talked to that are selling land in Florida are trying to sell it above retail without understanding that most of their potential buyers are going to be builders. do Not buy land in FLA without doing full due diligence  on all aspects . there are environmental gotchas that you need to fully suss out prior to waiving due diligence

(d) If you strike out on landing any on-market deals, you can search for off-market deals.

Best decision I've ever made. 4-6% average annual appreciation rate, stable job growth, population growth, drivable to the Bay Area, close to Lake Tahoe, no state income tax, 4th lowest property taxes in the Nation, much more landlord friendly than CA, land constrained meaning limited supply, etc. 

Does anyone know, or have a good idea, about the difference in returns on entitling & developing the land for each scenario, with final objective to sell to a builder to build and sell the structures him/herself.  

It takes many shapes and forms and relooking at your supply chain (which is how I consider my platforms) is a necessary and consistent need in our business.