Something to look into, nonetheless not enough info to give you a concrete response. 

I want to create an LLC/Trust structure to protect the property.

Buyers may be backing out for failure to obtain financing for the deal.

Hi all,I am new to the real estate world and my primary purpose in posting this is to introduce myself to fellow investors and agents in the area.

I've already done some small time cold call mailers to some local multifamily homeowners in my area.

I’ve received a number of responses from investors essentially stating that they use a simple buy/rent/hold approach in small residential properties, and have accumulated net worths in the 1 - 3 million $ range starting with just one mortgaged SFR. 

I am considering to buy an empty lot, then build a single family house, and finally sell it.Do you think Staten Island is a good place for this business?

Never seen that question and never seen any way to find that out. 

I was thinking to increase rent by 200 over the course of 3 months to get to fair market price.

Happy to help if I can.