This may work out but it may also cause a problem for your investment.

I will now try to renegotiate with my current contractor, and if that doesn't work out, I have new options.I am leery of publicly posting names and prices quoted over the phone, since assumptions and bargains were made verbally. 

I even tried to buy one which did not work out as planned. 

I’m familiar with the area (lived there for a few years), the growing college scene should work out great.

Could be, they're negotiating with someone to try to get it current - maybe the borrower, maybe an estate.)Up till then, you can try to contact the owner of record and work out something to buy it from them and pay off the lienholder.

Real estate investing is a very capital intensive activity one way or another.

The house is overall in solid condition, just needs an intense cosmetic rehab with new kitchen and baths. 

I have paid for expensive campaigns before where Facebook pushes your ad in front of people, and that pretty much paid for itself - got a couple bookings and built a following - but it was quite expensive and rather labor intensive.  

Here's a general overview:130 acres of land split between two parcelspreviously operated as a golf course until the owner passed away; it has since been shut downalready has a septic system for the club house/restaurant that has been maintenanced regularly (not sure how many homes it could sustain)land was evaluated by a developer, but was written off due to a lack of public water/sewagetownship told me (not in writing) that public sewage and water will likely go in within 5 yearsthe land is aesthetically pleasing with rolling hills (slight grade) and a few pondsOwnerswell off financially; want to sell but are in no hurry; they are considering a few optionswilling to work out flexible terms: owner finance, lease, lease optionrequire that in the event of a lease or payment delayed owner finance situation, that the taxes are coveredLocation2 minute ride to the highway11 minute drive to a Walmart Supercenter$93,000 median home sale priceone hour outside a major metro6.2% unemployment rateStartup Capital Required: Property taxes through-out development of first phase of MHs until income producing; then split profit, begin payments, etcEngineering plans for 50 homes (expandable to 200 based on demand)surveys, environmental assessments, permittingdesigned to eventually tie-in to public water and sewageConstruction of lots, roads, and foundationsPurchase of new homes to be sold offI believe there is a significant demand for a family friendly park, retirement community, or both. 

Work out what your niche specialties are for adding lots more value to properties than their cost to you.