Although no two people have the same experience while starting out, here’s a structured approach to help you get started:1.

I'd suggest that TX tax sales are a better match than the IRS levy.This discussion makes me suggest that there is no clear answer to the OP question and that it would be location-specific, facts-specific and likely advisor-specific.

It has no ventilation or ductwork in it.

Should I discuss some bullet points and do a small contract between me and the buyer or is there a standard contract for such that we can agree up on terms prior to handing the deposit to the title company?

Simple answer, yes these are all normal things to utilize.However, as to how they are used - that will depend entirely on where you are going and what you are trying to accomplish.For tax purposes, given it is generally a bad idea to use an S-Corp or C-Corp for holding real estate, any other tax structure will have absolutely no difference from one another - IE an LLC taxed as a partnership, an LLC wholly owned by you and disregarded for tax purposes, owning directly, or owning through a revocable trust - all of these have the exact same tax result at the end of the day.

PPP makes no difference other than he has a penalty at the end. 

I still like LVP, but no way do I do the work anymore.

Now some people have that no problem, but others forget that when you put little down, a refinance is not a guarantee because of the LTV factor.So something to consider.

However, land costs are crazy, most lots are going for no less than $400k.

We haven’t filed personal taxes as our accountant extended after an accident so have no “income” shown through taxes.