The home is valued at about $220,000, annual taxes are $6000.

CA for instance has hundreds of thousands of paper lots that were created between about 1900 and 1935. these paper lots get sold at tax sale all the time and its where a lot of the land geek type of players toil. 

Due to taxes, the up and down nature of stocks and also out of a desire to actually own something real and tangible, I decided to invest in real estate.

IRS guidelines would require you to seek out a tax professional but i believe you are taxed on gifts above $14k.

At the state level a law was proposed to place additional 15% tax (on top of local occupancy tax) on STRs.  

However, she claims these people are her family.

Complicating this issue is the need to do a 10-31 due to stepped up value/capital gains tax on half of the land.  

For those of you who enjoy reading court decisions here's one from NJ on a claim of unjust enrichment I found interesting.  

Hi,I am budgeting for the basics for my NOI (and taxes, insurance too):1.

The requirement to defer all tax is simply to purchase at least as much as your net sale (in your case 50% of the net sale of the entire property).