As I am new to this and looking for cashflow using rentals, one key aspect of this investment is to ensure that the unit rents out quickly and while I do understand that cash flow to begin with might not be attractive, it can be a good investment in the long run if the location is right(as appreciation also kicks in).

Is just the fact that no garage could be a no go for some buyers enough to build it even if it only raises the value by the actual cost?

It also matters where the home is located, and what the weather, type of tenants it attracts/has been attracting, etc. other factors are.

It had multiple offers the day it was listed (like everywhere) but now the financing of the buyer is falling through. 

When I drive for dollars, I just take notes of the addresses in my phone and add them to my propstream lists later.As for cash buyers, I don't think there's such thing as too many buyers on your buyers list, although you do only need one to close a deal.

basically if anyone has any tips when it comes to researching plots of land in order to make the right purchase i would greatly appreciate it get with a realtor. we underwrite land at no more than 10% of after built value. in our market we build under the average new build value which is about 515k. we like to be around 420-450k and smaller footprint about 1500 sq ft with attached garages. we build close to urban core where everyone wants to live and net migrations match up. but suburban is fine. if you give more context I can help but in most markets land is a buyers market. most people aren't looking at it or buying it. 

The old owner unfortunately locked his tenants into $800 leases which scared away some buyers before he listed.

@Collin Luckett what your touching on for changing of buyer during pending is not a viable direction. 

Not only does it hurt the returns, it is a very attractive target for ambulance-chasing lawyers and title fraud.  

Since Stamford’s market supports higher-end finishes, who is your target buyer, and do you really need top-tier finishes to maximize ROI?