Work with a real estate attorney to draft a formal agreement that outlines responsibilities and protects both parties. 

Sales Tax Breaks: Construction materials and services may be subject to lower tribal sales taxes—or exempt altogether.4.

Once you become licensed you subject yourself to all the laws required of licensees, including the requirement of broker supervision.

You could tell them to cancel the listing and you will find someone else to list it after a month not 4 months (the market take is subjective too, all dependent on what your house has compared to others, where it is located, the size of it, and so many other factors).

- If so, 1031 into something bigger and easier to manage and then when you pass, the inheritor receives your property(s) at a stepped up basis - subject to Inheritance Tax limits.Otherwise, sell one every 1-5 years when you need the cash, so you can plan expenses to offset capital gains.

I have helped a lot of "subject to sellers" purchase their next home.

That is subjective though - I just advise my exchange clients to understand that number and understand their exposure.

You're asking the $1,000,000,000,000 question - there's no right answer, but there's only the right answer for *you* because its so subjective. 

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

In a Subject To, it isn't the seller making the payments.