@Felicia NituIn addition if you actually want to realize that value, you need to count another 5% for selling costs, and the taxes from the sale.Assuming a 20% capital gains tax, your total ROI on the above scenario would be about 12%, even with the numbers you were using. 

Or sell using the 1031 exchange along with a partial 121 primary residence exemption There is a way you could take advantage of the 121 primary residence exclusion allowing you to take the first $250k of the gain tax free ($500k if married) and qualify for a 1031 exchange.Say you purchase a property as your primary residence (house hack extra rooms for extra income) and lived there for two years while stationed there.

I'm talking about tax season! 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

If you live there 2 years or more before selling you will be exempt from tax on the 1st $250k in profit which is a nice bonus. 

First step is to figure out how to buy the land (if it is even for sale); I have the name of the owner from the tax rolls, so I think I will start there. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

What These FREE Courses Offer:Clear Fundamentals: Grasp the unique benefits of self-directed IRAs over traditional retirement accounts.Real-Life Case Studies: Dive into actual turnaround stories and see how investors like you have leveraged these strategies.Step-by-Step Guidance: Navigate tax benefits, compliance issues, and smart investment choices with easy-to-follow instructions.I discovered these courses when I needed fresh ideas to boost my portfolio—and they delivered actionable insights without the fluff.

Can you either rent out your current property if there’s been little/no appreciation, or sell it tax free?

They will handle the collection and distribution of payments, amortization, escrow accounts, and any tax documentation.