But if costs are high or demand is uncertain, holding onto the land while monitoring the market might be the better play.

You were not afforded a reasonable (in most states, 30 days) amount of notice to re-market your property. 

May sound strange but one thing to remember is when mortgage rates take a big drop it causes more buyers to come to the market.

Are you looking into certain investment strategies to begin or certain markets? 

And yes you can move the market with just $1M.

I own one rental house in Cypress, but with the current market I have not been able to find another existing single family home to buy that looks like a good investment. 

Additionally, their marketing was very compelling.

Use AirDNA.co for market research.Search the immediate area, in "Traveler mode" to see what the competition is doing.All that said, I concur with the general sentiment of the above comments.You are already running tight. 

Quote from @Michael Ewers: Hey y'all, Wondering what is the best marketing strategy for obtaining off market leads?

What market are you in?