Thanks @Doug Pretorius that makes a lot more sense.

The trust rates were reduced slightly with the 2017 tax law, but not nearly as much as the corporate rates.2018 Estate and Trust Income Tax RatesIf taxable income is:                                The tax is:Not over $2,550                                       10% of taxable incomeOver $2,550 but not over $9,150          $255 plus 24% of the excess over $2,550Over $9,150 but not over $12,500        $1,839 plus 35% of the excess over $9,150Over $12,500                                            $3,011.50 plus 37% of the excess over $12,500Because of the new corporate tax rates, the use of a UBIT Blocker corporation may now make sense for those investors wishing to regularly engage in UBIT exposed activities such as house flipping. 

The job did not produce any document/receipts for obvious reasons, and common sense would tell me this is not possible.

Add some industry standard additional income for whatever other amenities exist on the property.Try to get your hands on a few marketed deals in the area to get a sense of expenses.

Just to follow up on a couple because they do make sense but the numbers don't add up for me :/ Annual Expenses: @ Year 1 = $18.718 * 1,02 = $19.032,36 in order to get Year 2.

For the lot - does it make sense to also post it on lotnetwork.com? 

They also take time to learn the area in more than just a superficial manner.No doubt that there are "better" opportunities in areas where the numbers make more sense, but a weekend Wells Fargo "Investor Seminar" held in the Bay Area doesn't give you all the tools you need to successfully operate in a place with which you are totally unfamiliar (personal anecdote).

@Aaron Klatt that is helpful and makes a lot of sense.

At the end of the day, if the numbers still add up right and make sense, then adjust your offer and go for it.

I am trying to analyze deals and make sense of the numbers.