Brand NEW home that had fallen out of escrow from the original buyer and the builder could not close the development and open the new one until this house was sold.

They can't tell if it was a full gut renovation built to the highest standards, a "lipstick on a pig" where the builder did schlock work or a home that hasn't been updated since 1945.  

The market crashed, and the builders cleared the remaining land to build cheaper homes, bringing my property value down even further.  

These are the builders of wealth.You want cashflow while you finish school, which I understand.

The town I live in Maricopa AZ is exponentially growing. 2nd state where Californians are moving to, which is creating a lot of builders in the area.

Also you can profit in different stages of development as you mentioned rezoned for it to be valued at $12.5mYou can add more value doing a combination of the following by reduction the time it takes to get building permitsSite Plan Approval , if applicable tree clearing, grading, connecting utilities, etc..Your land can be worth $20m by the time its shovel ready for a builder but I wouldn't market the land if its not site plan approved as that is where the value increases dramaticallyOr you can go ahead a build rentals and refinance an descent amount to pay all your debts and possibly retain some capital and still have steady monthly cash flow

Average where i am in North East AL is typically runs between $100 - $125 per square foot (that's based on all builder grade). 

You really cannot go wrong with rates right now being so low and builders having the ability to get to projects sooner.  

Also, I would love to hear from builders how they transitioned from remodeling to spec homes or development if they have had that experience.

I didn't see the original post a year ago Samir but the builder in me wonders about asbestos and lead paint in an old building.