This is the most complicated piece because you are essentially the mortgage originator (which might run into licensing concerns depending on how many times you do this and your state), and you need to make sure the person who is buying is a good borrower.3) close with a title company or lawyer (state dependent) who knows how to deal with this type of transaction4) set up an account with a servicer to collect the money from the borrower (not required, but highly recommended from note buyers)5) collect payments

Just be sure to keep a close eye on rehab costs and timelines to ensure you’re getting the best return on your investment.

In my case, I have relatives who are builders (in a different state) but have good connections with subs, etc. and I am spending the time to personally review all proposals (obtaining some on my own as a check), etc. so that I am confident that the cost incurred is appropriate. 

Find out what it would cost to get fixed and ask for that price as either cash back at closing (if that is allowed) or taken off the purchase price.

need massive power close to said land.. also keep in mind they employ very few people so its not a long term thing for employment

Happy to connect and talk about management from the ownership side and owning a PM company side if you think there's any value or interest in that. 

The owner's title policy premium, title search and closing services (collectively, "Owner's Policy and Charges") shall be paid, as set forth below.

I already have a job paying sometimes 1,000 an hour so nothing comes close to that return for my time.

Looking forward to connecting!

Mainly because you'd have to pay for rehab in addition to a down payment & closing costs plus it's not a cash-flowing investment strategy.