Much of this analysis is based on the size of the land, how much it will cost to do the horizontal development, and then estimate the cost of the vertical build and ultimate value (aka "sale price")

You can use this tool to estimate future property taxes: https://treas-secure.state.mi.us/ptestimator/ptestimator.asp

I think the estimates are crazy low.A $3200 rental is going to be a nice place, not something with garbage paint on the walls.

What do you estimate is the difference between the market rent (or what other tenants pay) and what she pays?

Land is very tough to estimate value do to it's valie is based on what you can do with it and how much demand there is for what ever is ultimately done with it. 

I'm curious if you can share a little bit more about if you have cost estimates in how much going through the eviction process was in terms of your time, legal fees, lost rent?

I know very well all the models of house they build, so can give you an accurate estimate and guide you thru the process.Steve

Quote from @Hector Espinosa: Hi,I'm negotiating a seller financing deal which may be my first one and would like to ask for some advise about and what are advantages and disadvantages about seller financing deals.These are the seller financing terms:House Price: $330,000.00 USD​ (Sellers still owe ~$301,000 USD)Down Payment: 5% = $16,500 USD​Loan Amount: $313, 500​ (Monthly payments will be amortized as a 30 years loan​)Interest Rate: 4.531%Balloon Loan Term: 5 YearsMonthly Payment (P&I): $1,594.24​Closing Costs:  ~$3300 ​Zip Code: 74105Observations:       * HVAC requires an update but pending to inspection (replacing with a new one will cost ~$10,000 - $15,000 USD )     * Expected Rent Income: $2,000- $2,300 but this is has been really complicated to get a good estimate because is all over the place in the different sites I have checked

Question is, if I have the means to put a high enough down payment on a house to be cash flow positive (assuming my expense estimates are accurate, etc.) is that something that I should do?  

This indicates a strong market for short-term rentals.Revenue: The average revenue per available rental in Red River Gorge can be estimated using tools like AirDNA.