Dig deeper and talk to management companies, and see how long tenants tend to stick around in the specific segments of the market that you think would work best.Remember- if you research and base your decisions off of what every other investor on this forum does, you're going to end up banging your head against the wall trying to monetize concepts that have been wrung dry by the masses.

When they realize they can cut their rent payments significantly if they have a means to monetize their rented property, they will. 

This will elevate your stature as a professional and open up a lot more opportunities for you to monetize deals you can’t buy or wholesale.

This will elevate your stature as a professional and open up a lot more opportunities for you to monetize deals you can’t buy or wholesale.You should talk to a real estate attorney that works with investors in your area to ensure you are in compliance with any laws.

By coupling an installment sale with a monetization loan, the seller can get cash that they can reinvest and the tax benefit of the installment sale. 

This will elevate your stature as a professional and open up a lot more opportunities for you to monetize deals you can’t buy or wholesale.You should talk to a real estate attorney that works with investors in your area to ensure you are in compliance with any laws.

Of course, you don't need to be a Realtor to make these connections but it certainly helps.I began investing 6 years before getting my license but working in the field full-time has certainly helped me narrow my focus and monetize some of my relationships. 

My question is, I don't have the money (I doubt I'd qualify for the mortgage right now) to build an income property on it yet so I'm thinking of other ways to monetize it while working on saving for my first long distance deal.One way I think would to clear it, put a slab down and rent it out as a mobile home plot or something along these lines.

@Ivan Barratt and @Alina Trigub do either of you have experience or knowledge of Monetized Installment Sales?

A Monetized Installment Sale, on the other hand, works as you described.