That would basically mean there is no After Repair Value if the property is valued at 85k that makes the transaction tricky Add some improvement costs to ensure that 105k evaluation and we may have something 

How can I find lands with 0 improvement?

CK also gives suggestions to improve your credit. 

I know about the 70% rule and realize that there will be minor repairs.

With a basis of $138k and only $1,000 monthly rent, your well below the 1% rule (a basic back-of-the-envelope calculation used by investors to quickly determine a go or no-go decision). 

Greatly appreciated and hope I'm not bending any rules by asking.   

First three rules of real estate investing: location, location, location. + Location: the only thing about a house you can't change.

There is no money for any foundation repair or drainage improvements.  

Apparently ccioa rules do not apply here.

Properties #1 and #3 are cash flow negative if I use the 50% rule.