There's no reason why a good builder can't get it done in 4 months.

Reason for this is that our 40% partner who leads the group purchasing the property accepted a SUBORDINATED note for his interest in order to put the deal together.Bottom line is this, by utilizing a number of CREATIVE real estate principles, financing, deal making, etc. we have increased our wealth by anywhere from $235,000 to $635,000 over what we would have had accepting a cash sale.  

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

You could ask them if you could start with the process-ie have a builder look at the property (with the owner okaying when you do it to avoid problems with people currently there), come up with plans, so you can start as early in the new year as possible.

There is also one big issue with your tax projection - the taxes of $280 are based on the vacant land taxes and will likely go up to ~$2000-$3000 in a year or so when the assessor catches up with you.I realize there is a 1031 involved so a real estate purchase is necessary, but you should compare your ROI to a safe yielding instrument like a 10 year T-note or AAA corporate bond yield. 

I recently started my wholesaling business and within my first month have already locked up a couple Vacant land properties and I want to go all in on this strategy!

We have never used real estate attorney for dirty work regarding foreclosures or pre-foreclosures, other than to close the deal and/or deal with any issues that may come up in a contract. 

I grew up in Newburyport if you know the area.

DSCR lenders will be able to go up to 80% LTV and require no seasoning as long as there has been documented improvements and the property can debt service at the higher loan amount. 

Set up will vary depending on a number of factors.