It is in LA and the property has been neglected.

Yes in some circumstances you can mitigate risk but you certainly can't completely eliminate it. 

Being the first isn't impossible, but more difficult.Secondly, the ability to flip by your lack of management under the circumstances means the property should be in fairly good condition, no real rehab work involved, and paint and market types.However, on that point, if you were to contract with a general contractor for the rehab work, the concern in that part of the flip is taken care of......but it needs to show the ability to profit too.

I have seen that there is much to learn at BP in a multitude of topics but there is one that I see is a little neglected, which is, how to sell vacant residential land. 

I'm ready to put the money into some of the neglected buildings we have now, and then clearing up my credit and purchasing more multifamily properties. 

I'm totally unsure of which circumstances would necessarily trigger a gift tax when deeding directly to a beneficiary.

But outside of those special circumstances - I wish them luck, waive their application fee, and move on.

I have the same question, but different circumstances.  

As to your specific circumstances, I can't tell you what is the best route for you.

I know who the owner is (absentee, the property is vacant and falling to pieces through neglect) and have some background information, and have sent a letter with of course no response.