I bet there's a house already for sale in the same area as your theoretical acreage, for $60k.

If there are, I can sure bet that the premiums will be sky-high, in that there will most definitely be claims made when they vacate.Your thoughts?

Some things just can't be answered in forums, so don't bet on getting answers to rely on.

@Irma Hermida To get your company builder credit and to have some kind of project registration/experience for future use, you might want to partner with someone and give/sell a portion of the land for them to develop and they cover the payment --there are investors that invest on appreciation based only--, but perhaps JV with someone is probably a good bet.

Mike,Comfort Masters is a great bet for the North end of the Eastern Shore (Cecil and Kent County). 

But if you aren't, it's risky to bet on appreciation in order to make a property pay off for you. 

I bet they will end up selling for another 30K drop though.

If you are looking at roughly "all-in 50K", a down payment on a college student quad is likely to be a better bet than a cheap SFH.

Old doors are sometimes oddly shaped, as in not square or in a nice plane, because they have been tweaked over the years.

@Tyler Flagg I have to agree with everyone on the floors your best bet will be to replace them, also a good coat of kiltz on the walls will help eliminate some of the smell.