The parties agree that the exact amount of Buyer’s Agent’s damages in that situation would be uncertain and difficult to accurately estimate, and the amount indicated in the previous sentence is fair compensation for and a reasonable measure of those damages in the light of the anticipated or actual harm caused by the breach, the difficulties of proof of loss, and the inconvenience or non feasibility of otherwise obtaining an adequate remedy."

There are a few indicators of that.  

As indicated my lowest IRR was above 70%/year.

Also, as Jay Hinrichs indicated, you haven't deducted the land that is needed for the roads, curb, gutter and sidewalk, nor the costs of installing infrastructure (water, sewer, gas, possibly cable, electric, etc.) 

I think  it's Vegas doing poorly, which is just an indicator of the economy and times.

If you're willing to be more risky, you can add 1-2 indices extra that offer more upside, but understand drawdowns are higher.

There are a lot of signs the economy is struggling or over-priced (Buffett indicator, unaffordability, M-Score, etc.) but to assume we're on the precipice of an unparalleled meltdown is probably overblown.

Given the owner's negligence and some indicators I observed in the building, I knew there would be areas to potentially retrade on.

But my previous property mgmt indicated that it's because most travelling nurses prefer to stay in Scottdale and not near the hospital.

It is doubtful that the property you purchased was in a B- area, as you indicate.