Realtor was not honest about the septic company he hired to test the system.

This is an old link I found but serves well for our example) Let's assume that at any point, 10 percent of this inventory is for sale (no data found on this but any number should work).

@Evan Polaski We did this small job with this contractor this week as a “test” and I think he’s failed.  

You can buy that data from list brokers right here on BP 

That is always a must, and  then approach every owner the same with the same info and data. 

To top it off if it is already a platted lot and I have the soil testing done for septic I could get all the permits in an easy morning.

The tests for being an active business, e.g. material participation, don't really apply since the IRS already has ruled/law saying rental are passive activities. 

The Agents have all the data to get you oriented on the current situation. 

At the time though, I had my eye on some other properties and really just wanted to test my theory that I was sitting on a great property and could flip it quickly. 

Closing on the house seems to have been the easy part, now getting it set up for rent is what will be the actual test.