As for other deductible business expenses, it has to be necessary and ordinary in your kind of business and have a valid business purpose.

I'm guessing the buyer will have a unique purpose/use for it.

There are other calculations that would be appropriate for your purpose.  

The whole time I would retain my 30k for the purpose of cash reserves to be used when and if any number of those things you mentioned were to happen.So, in short, I realize and understand the importance of cash reserves, and will not leave myself without.

It has to do with lending laws and the purpose of the funds. 

Since you're just starting out I recommend focusing on identifying your purpose for wanting to invest in RE.

@Alfred LittonIt depends on what you purchased the undeveloped land for.Did you buy it for investment purposes?

If you want to invest buy a purpose built multi unit property not a SFH.

I am looking for a pure multi-family rental for the main purpose of immediate cash flow as well as appreciation over time. 

These banks have REO's (bank owned properties taken back in foreclosures) that they are always eager to get rid of, but especially so at the end of the year, for tax purposes.