New constructions in the neighborhood are selling for a significant amount above construction costs (double or more the market value of the land).  

If you are looking at real estate as a way to earn income since you don't have a job, that's a really bad strategy.

I mean really not in the real estate context and not for something your buying to hold for many many years right ? 

Waiting for market to rebound Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Very familiar with the VA market.

Unfortunately for them the market at the time was slow.

Sitting on land, Waiting for market to go up Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

It should apply, as a veteran myself, I have a soft spot for other vets using their VA loan to get started in real estate (it is how I got started, and it is easily the greatest loan product available). 

One of my friends is a mortgage broker, so I discussed my challenges with him, and he connected me with a real estate agent.

Is this purely a market appreciation deal that you're meant to hold onto 10+ yrs for it to make sense on paper?