This would be our first attempt at land financing, so we are wary about proceeding. 

I'm not down and out myself and might struggle with it too depending on timing, like for instance tax time when I have to write a massive check to the IRS.I also think it is natural for a person attempting to rent a new place to do some desperate things at that time, that they might not otherwise ever do, such as make a promise they know they might not be able to keep.

We have been attempting to get the contract extended but the owner will not sign until a bank provides a letter stating that they will fund the project.  

Its the regulatory body that oversees the appraisal industry.

If I do my target area research and price right, FSBO can go on MLS and can do well, better than what I did with my previous attempt when I had an agent. 

Been through the auction a few times with no takers.Strategy A:  If it doesn't need much, quickly sign a commercial property manager and get some warm bodies in there producing rent to cover taxes, signage, and CapEx. 

It's a big decision and it's best to work with an estate planning attorney that specializes in that since it's still an actively litigate issue between the taxing bodies and taxpayers. 

@Adam Sharp how are you attempting to level the bow?

5 Days prior to accepting warm bodies into the home. 

To answer your questions in order.....Your headline is: “New Listing Special” You need to be competitively priced but not necessarily “discounted” Don’t take your listings live more than 5 days before accepting warm bodies.