We're not in an immediate rush to sell it, so could hold, but also want to be mindful that it's still a relatively nice return on the initial investment of $68,000 with down payment and closing costs.I'd appreciate any guidance you may have regarding holding on to land to appreciate in the long-term (not making any more of it) despite the carrying costs of taxes/interest paid on mortgage, versus selling it and making a profit. 

Its not cheap insurance to carry.  

Add "walking money" for seller, rehab costs, carrying costs, etc, Add up the numbers and see if total is acceptable to you/below ARV.

I did know we'd eventually turn it into a rental, so we were sure to buy something smaller, low maintenance and it wouldn't be an over leverage to our incomes as we knew we'd have to show a lender to the new primary residence that we could carry both mortgages. 

Had I not been able to self-finance the project to this point I would have been toast, carry costs on the land would have killed me before I even moved any dirt. 

Company doesn't appear to carry a valid NMLS license. 

Only debt we carry is current mortgage.

Many parks offer a rent-to-own option where they carry the note for the unit and that starts to get into SEC rules for lending. 

Real estate investing is a great way to build wealth but you have to understand what your personal goals are and what you are willing to do to achieve them.Flipping is not for everyone and carries the most risk of any type of real estate investing.

I have enough for the 20% and she has mentioned that she would be willing to carry the note.