You can utilize rental losses in several situationsThe most common are- MAGI being under $100k allows up to $25k in losses to be deducted if you meet material participation tests.

I'm wondering how to utilize this property instead of letting it sit vacant so looking for ideas and potentially short-term rental property manager who can help manage. 

They are responsible for utilities, lawn care and rent until it is re-rented.

- Does it require extension of public utilities for water & sanitary service to the lots?

Mortgage (easy to find out)Property Taxes (easy to find out)Insurance (easy to find out)Utilities (How do you guess for these when first starting out?

 $1900 lost rent+$900 broker fee+ $200 utilities = $3000=$1500 a year)-$150  Misc:   Ancillary stuff.

Even if you don't 'need' to leverage, each deal should be evaluated case by case.I will still utilize debt when cash doesn't help get a discount or help acquire a new property that doesn't check all the lending boxes.

In case you are wondering, and I'd be surprised if you are, I was a Project Manager for large design and construction projects in the commercial world and the utility industry. 

I just sold one of my condo properties utilizing this exemption, and it's an awesome tool to building wealth.

Demo can be a lot of permitting (clean air asbestos recycling utility mains capped, sewer septic ground issues.