Both lots together with homes on it have been appraised at 2M each, without homes 1.1M...So if I own them free and clear I will have 1.1M in equity to which I could do a lot from getting a LOC to buy rentals to doing nothing.

I have over 50k in equity in this property, expect to cash flow $300 a month when fill it and move into my next multi-family unit.

Hello BP community, My Name is Tony Delatorre, Currently living in south Florida, I own 2 LTR in hot springs, Ar that I go through a property management company with, I plan on self managing at the beginning of lease renewals, I am looking to connect with Investors, tax professionals, and also lawyers, also a couple questionsA little more about me- I am in the industry of blue collar, I work as a Journeyman Lineman for the IBEW, I build, maintain power lines with power company’s from transmission, distribution, substation, from maintenance, construction, natural disaster restoration and inspections, I have 10 years in the fieldI bought my First property as a primary residence back in 2018 and turned it into a rental property in 2021, and cash flows about 200 with PM, but has about 100k in equity, I bought my second rental property in 2021 that cash flows 300 and has about 50k in equityI currently do no have any consumer debt besides rent and mortgages, and currently keep my money in HYS accounts, and Roth IRA, and some investment accounts, I have about 85k cashMy goals coming into 2024, is obviously connect, educate, and learn from experienced real estate investors and also diversify my portfolio with multi family and str, also am in the process of starting my own commercial business using drones to inspect power lines for power company’s, and also plan to utilize it for real estate purposes such as surveying, insurance adjustments, photos, videos etc, if any lawyers want to connect, I do have questions on structuring a business in this field and in real estate. 

You won’t get more properties likely for $100,000 in equity.

I roughly have 320k invested in all 4 properties with the ARV where there at I have gained 180k in equity.

The developer is making $190k on $1mil invested 20% cash on cash return, if everything goes right, the land owner is making $490 in equity on the three houses, plus getting paid $300k for the land, so $790k for ZERO money invested.  

If you took that $135,000 in equity, you could put $40,000 down (20%) on 3 separate properties.

We also acquired it well below its current value so we already have some built in equity so if we do ever decide to sell we are still in great shape.

Stealing equity from sellers is another.I'll bet dollars to donuts that if some wholesaler got your grandmother's house under contract like that and screwed her out of $40,000 in equity, you'd be irate. 

I agree with the comments that this feels like a bad deal unless you know for a fact you have built in equity (buying under value or you can create value somehow).