those properties sitting on the MLS property won't work... because if they would, someone else would have bought them already. 

We bought for my mother to live in.

Ken, you're gold!

If they are willing to become the developer and do want to move back after rebuilding, they can sell the property that they bought to live in temporarily for 3 to 5 years and most likely it went up in value and helps offset the new build costs of their current lot.

I've used Magnolia title a lot, Josh Hunter is the owner and has bought properties.The weird thing about the tax professional is that they are saying the value has to be 400k but i don't see why.

I took a small private loan and bought my first home.

@Ricky Hernandez  We bought in two different communities that had no rental restrictions then later imposed cap of 10% rentals. 

. $5,000 is still pretty cheap for land though unless the land was bought long ago.

Not all that glitters is gold, Pony Boy.I would stick to what's working, first and foremost.

If you are trying to buy a $ 1 million home, and they bought it 20 years ago for $250,000, it’s likely they have a whole lot more wiggle room – and less price sensitivity – than someone who paid $1.2 million for it last year.