@Sharetha H.How much time are you allocating to rehab and sell this house?

You can pay 15% capital gain tax on that and walk with $8500.If you build you'll still get an allocation of say $10K for the lot plus 15% of the construction cost ($20K ish). 

If you could simply enter a description of income and expenses with amounts as a written statement and it would properly allocate them in GAAP form, you'd have something.

The 10k for repairs is just my allocated budget for turn overs to clean up units.

Some, such as adverse possession by way of either color or title or claim of right, are pretty heady topics and could easily devour an entire weekend of training, rather than the one minute +/- that I allocated.

Network with possible housing developers and commercial developers who may be open to collaborate to buy your allocated land across a fixed time period.Contingency wise, you need to have the intestinal fortitude to lock 300k to 500k of your money without any returns for 3 to 5 years along with paying taxes.

At $1,250 rent you will have a spread of $750 (NOI) every month after your operating expenses (approximately) that you can allocate to Cashflow and Monthly payments to the seller. 

taking the proceeds and allocating them as down payments on multiple properties. 

It falls to how we choose to allocate our time.

It may be wise to allocate an additional CAPEx allowance our of your Net Income (say 8-10%).