I think you need to plan on carrying some pricing for plumbing, electrical and even HVAC.

trying to keep the positive energy flowing!

Barb wire with or without electricity = bad neighborhood

You want to make sure you are sending mail to people who have equity, price range you or your buyers will be looking for, area preference and sellers that may have some level of motivation so you are spending less time, money and energy to get deals done.

Zillow estimated value is $767K and will sit on 2.9 acresLot 2, 3, & 4:  Comprise of 2 acres each.All lots will include water, cable, electricity and ocean views.My dilemma is whether or not to build a spec home on the vacant lots and sell them for a higher end value?  

You need to be licensed for stuff like roofing, plumbing, electric, etc.

Always include even if self managing) plus 1% for turnovers.5% Credit Losses (Uncollected Rent and Skips)5 - 10% Maintenance/Repair (depends on Age and Condition of property)5% Taxes and Insurance (Varies)5% Utilities paid by owner (Electric, Gas, Water, Sewer, Garbage)5% Landscape Maintenance/Snow Removal 5% Misc (HOA fees, Pest Control, Legal, Accounting, Advertising, etc.)5 - 15% CapEx.  

Tenants pay electric and gas. 

Roof was done in 2008, HVAC in 2013, Electric water heater in 2014.

For example, in this specific comp list I came up with, the backyard butts up to an electric utility field.