CA land investment with 401K

[Steve C.]

I recently went to one meetup event from one investment group.

They suggested to buy land in Southern California (Antelope Valley near Los Angeles) area. 

About 2.4 acres were sold as 4 units and you can buy 1 unit for about $40K. 

It was suggested to use money after rollover 401K to IRA account.

I never considered land investment before, so this was an eye opener for me. 

Also, it was good opportunity to learn how your retirement account can be invested for real estate. 

But I wasn't sure how to evaluate this deal, so I just passed on. 

How can I evaluate this kind of deal in the future? Any advice?