I have driven many of the streets in Magnolia Gardens, Phoenix, Panama Park, Grand Park, Biltmore, Lincoln Villas, Robinsons Area, Mixon town and related areas.

Isn't the value of the commercial property, especially in your case, driven by cap rates and basically how much rent you can pull in? 

At this point I could just sell the lot for a small profit but plan A is to build a house and get it sold and plan b is to rent it out short term or long term if it doesn’t sell within in a reasonable time frame like maybe 90 days or so.

Another common misconception is that they are first time homebuyer programs; while being a 1st time homebuyer may or may not be a criteria, the majority of these programs are income driven.

Though I have minimal experience and exposure (2 years), it appears that rental demand is pretty heavy with rent prices being driven up even since I started.

@Lauren A.  I

One of the main reasons that housing prices are being driven up right now is due to investors creating additional demand, therefore driving up market value. 

@Jats A., is this one property or multiple properties? 

If property A is sold and the profits are used to purchase a new property – call it Property C (via a 1031 exchange), what are the taxable gains for property A?

Although, I think the Fed be very data driven after that.