Hey Recko,Well done.

Pay attention to DOM as well as ARV.

I think that’s the end of your lawsuit as you can no longer provide what you were offering. 

There are 5 percent conventional loans now as well.

In real estate investing, the value you provide should far outweigh the payment you receive.As "The Go-Giver" by Bob Burg and John David Mann teaches:"Your true worth is determined by how much more you give in value, than you take in payment."

After taxes and fees, and depending on if you plan to depreciate it at all, you may not have to pay anything or much in taxes. 7-22k spread minus closing costs (also the eviction costs are a write off as well) isn't going to be too much in taxes depending on what you decide to do. 

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With the new info you provided, the land does come in about 60-70% for other similar propertiesDoesnt make sense why land is so high to meI would think this would be ripe for a class action lawsuit but thats just my uninformed guessing

The bank/lender will need for you to provide (2) full years of 1099 income showing a positive income for both years.

I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.From the lenders perspective, it can be kind of tricky because there are plenty of properties that cash flow well, but even fully-rehabbed they are less than 100k, which make them difficult to lend on.