It is worth the $50 to get some solid comps on the property that are not based on the wholesalers optimism. 

The other 2 strip malls from 12 and 16 years ago next to the land did you said you built them.If you built them you should know as a retail developer that a lender for a spec build today will want certain percentage of pre-leasing before they give you a construction loan.They generally loan to value or loan to cost whichever is less.I know some developers who do not have the pre-leasing requirement but they build 20 or more a year for decades now and the lender knows they will perform but most lenders will only do that for the extremely experienced developers.It sounds like you might own the land free and clear.Building another strip center with regional to mom and pop tenants tends to be non-optimal and a third choice.

May not be optimal from a $ perspective, but likely more realistic.  

The more I thought about it, the more I realized it'll help with my longer term plans:Faster market familiarization "Being in the trenches" and seeing the emotions/hot buttons of buyers/sellers will help with optimizing flips and holds.I'm very good at generating leads and creating sales funnels and systems.

I'm a big believer in investing in the market that fits your objective and criteria regardless of where it is rather than sub optimizing your returns just to invest in your home town.

For a bigger property, it might make sense to have onsite crew to manage that as well, but being a small property, would not be optimal.

Call it "professional property services" or "property optimization" or something that is not so easily confused. 

My general feeling about websites like this however is that since the deals are so readily available and there's an organization between you and the property, that means you won't be getting an optimal deal most likely.

Sorry if this is you but I don't understand how a wholesaler can bring a deal nearly $100k OVER the "optimal formula" for a fix and flip (ARV * 70%- repairs= offer) on a $500 ARV property. 

I have not set up any entity to this point and am wondering whether I should first consult accounting or legal advice regarding the optimal structure to use?