Following - I'm based in California

I'll give my advise based on my understanding of the sitution so hopefully, I understand it correctly: You bought an investment property with a structure (house) on it but which also includes an additional .34 acre lot next to it which is included in the deed and you now want to SPLIT the undeveloped .34 acre from your property and sell it sepearately, do I have that correctly? 

At the end of the day land value is bases on what you can put on it.

Based off the other comments - it looks like you're trying to buy 1 deal a year with an FHA.

In our markets we pitch the floorplan we have and build cost and then help identify lots that can be built around and analyze the submarkets to see where the investors and us both agree to be the best fit for their strategy (hold or sell for a profit since we build about $155 a sq ft with margin and homes sell for $219 per sq ft on average) and based on that we build it on their construction loan.

What type of insurance do I need to have all my bases covered during and after rehab?

I suspect if it's based on our location when registering our Zillow id, I have no problem when querying surrounding areas but always got the 501 errors when searching for an address that is on the other side of the country, also it could be related to the Zillow branding compliance guideline, trying to reach out to Zillow and see if I could get an answer.

But basing on the recent data, is it safe to say that we are entering a buyer's market this year?

This is good Alecia it shows an actual time based accounting on cost of time it takes to manage X units.

I believe learning by educating yourself is the best base for achieving success.BRRRR on AmazonBRRRR on Audible (1st and 2nd download w/ audible are free I believe)FLIP on AudibleBest of luck!