this is definitely something I will work on and improve for my next approach.

If you love your job, spend the time you would have as an agent improving yourself there instead and you can roll this world.

A 20% decline is good for this market, and improve affordability slightly.Next spring, who knows.

You get out from under the property, at a profit, they get a property that they can put sweat equity in, and still get a bargain that they can continue to improve even after. 

I have pictures in my profile.

Your improvement could very well fuel other interest and raw land is generally cheap and easy to hold if not in a highly taxed municipality. 

This is a tool that is used to quickly analyze profitable deals just like the one you have described.Keep in mind; A large majority of lenders are hesitant, or will not, lend money on land, let alone construction costs associated with a "tiny" home.If you were considering using a VA loan (based on your profile picture) forget it. 

The biggest mistake we made was over-improving the property too fast and running up debt to do so. 

I have put about 30 - 40K in improvements and structural improvements in over the last couple years.  

If you buy a property on your own you must substantially improve.