Do we, or has anyone followed through with buying anyway?

Quick evaluations are as follows, lot rent x number of occupied lots x 30 or 40% expense ratio(depends on who pays utilities) x 12(to annualized)=net operating income (NOIthen you apply an appropriate cap rate.

I am sorry, but I accidentally pushed the wrong button before I was finished. 

Just follow the money.You answered your own question...cash flow. 

If you still need to find a lender then ask the following questions:Questions for Lenders When do you start using rental income to help me qualify?

The following Saturday, I picked up The Book On Real Estate Investing.

What this means is that cap rates are pushed below what it costs for you to get a loan.All of that being said, you have three options.1.

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Plus I figure even if I plan to flip and it doesn't sell, I can rent it for a year with minimal cash flow and try again the following year but I have a couple other rentals that cashflow that can offset for a little while. 

There's nothing you can do to improve how the stock market behaves).Cons:Requires effort (stock market, you just buy some mutual funds on the web and then there's nothing else to do)Follow the IRS rules regarding prohibited transactions (when investing in the stock market, you have no opportunity to violate those rules).