I'm considering bringing my friend in with a % of profit.

If I cannot get decent cash flow then I might want to change strategies and flip the property for the profit instead. 

Next there needs to be some research on possible capital gains, and to see if your grandmother can use the primary home exemption to avoid paying taxes on the profit  up to $250K if single, and $500K for married. 

Target Refinance Property Value: $180,00075% LTV : $135,000Anticipated all in costs + Loan Balance of $95k: $122,607.42“SHOULD” get all of my money back ($27,607.42) in addition to some profit depending on the closing of the refinance.

If I can't close on time I stand to lose out on the $2,500 but if it goes through I could make a potential profit of $40-50K, maybe more.  

Just trying to get some ideas for proven successful tactics for making land a profitable investment. 

Our commercial loans are based upon the exposure of the real estate, the income stream being generated from the property, and the probability of the borrower being able to refinance into permanent debt.

Are there any lead generation systems or mailing lists that any of you have used and feel have been effective?

The business does not make a wonderful profit, as it basically sells paper things....

I'd recommend finding a wholesaler in NJ (check out the forums here on BP) and ask them for a referral fee (or 50/50 profit split) in exchange for giving them this lead.