There's a high probability you may hit a jackpot.

There's a lot to learn here but nothing beats what you can glean from face to face connections. 

There is a lot to learn in order to be successful.

That's a lot to most people.

A lot of younger folks are foregoing cars anyway, and I've read that the auto industry is getting nervous that car purchases are on a steadily declining trend.I wouldn't assume that this politician was necessarily planning to scoop the property up for cheap, chances are he'd end up in a highest and best offer situation bidding against other people, which is true for most rehab properties these days.Granted, he has the solution to the parking, but I still think he'd end up paying a good amount for the house if he had to compete against other people like you.It's also worth wondering, how useful is the lot to him, apart from the house?

I have been traveling a lot to FL and have been setting up connections there.  

There's still a lot to do, as you know, like the buyer/seller letter, inspections, maybe an appraisal, and then someone has to close the property. 

What would be the best way to use this vacant lot to start REI?

Alternatively, if you do your homework and see actual documents re the 'big box' store coming in, you MIGHT consider some sort of owner financing like your neighbor.Or you could buy a lotto ticket--dollar and a dream. 

There is a lot to consider.