After researching the situation a bit, it appears that there some rather complicated government statues in place that make it difficult to go after unclaimed properties, particularly those with deceased owners and no next of kin to claim the properties.

Partnerships can be very difficult to manage and there is so much that can go wrong (resentments, too many chiefs, too many cooks in the kitchen, etc).  

But if you have no experience, it's going to be extremely difficult (this is just my experience from having placed construction loans over the last 10+ years).

If you are looking at $300K purchases and then must hold the property for over a year before its insurable that carrying cost with no leverage is difficult unless you are extremely well capitalized.

However, after doing some thinking, we’d love to explore how to make this an investment opportunity.Here are the lot details:Total size: 1.029 acres (approx. 44,839 sq ft)Frontage: 73 ft wideOne side length: 434.61 ftFlag leg: 270 ft longZoning: R-6 ResidentialCity feedback: Because it’s a flag lot, the city mentioned it would be difficult to build multiple homes, even though the lot is large enough in terms of square footage.We’re exploring possible options like:Building a single-family home and selling or renting itApplying for a variance or possibly rezoningExploring any kind of ADU or duplex strategy (if viable)Partnering with someone more experienced to develop the landI’m reaching out here because we’re hitting a few roadblocks trying to figure out what’s actually possible.

Cash flow has been a little difficult to find with the current asking prices.

Eviction was difficult during Covid now is better.

I find it very difficult to create high value traffic.

We're also selling properties we have that are over 30 minutes drive time from our office as they're just difficult to manage. 

If the tenant has already signed a lease elsewhere, they’ve likely paid a deposit which would make it difficult to retain them unless their new lease includes a grace period or they’re willing to reconsider.