Land Sales versus Building sales

[Scott Shader]

I have been reading, studying and investing in real estate and it looks like the predominant focus of my investing has to do with structures of some kind, house, commercial, etc, I am also getting more interested in land purchase and sales, whether improved or unimproved.

My first question to the group is are there strategies and financial success stories of folks just making a living on selling raw land without a structure; if so, what; if not, why.

My second question is what would be the added value for land that had a septic system, pad and electric at the site or if the house was a total loss, has anyone developed any strategies on making money on this or is this something to "stay away from".

There are many building in bad shape that have good site amenities but the structure is bad, should these be bought and re-sold, is there a market for this or is it a "lose-lose" proposition in terms of cash flow.

Thanks in advance for your input and discussion.