Vacant land for $300 but with high tax balance... Is this a deal?

[Matt Snow]

Hi everyone!

I have been following @sethwilliams strategy for buying and selling vacant land for the last 6 months, and have come across the first "truly motivated"seller. I have a signed purchase agreement for $300. The downside is a high delinquent tax balance and a steeply sloped property. Since this is my very first real estate transaction ever, I am a bit hesitant to commit to this.

Here are the specifics:

Lot Size: .5 acres

Location: Groveland, CA, close to highway, (30 min to Yosemite National Park) 

Purchase Price: $300

Delinquent tax balance: $1,978

Title + Closing Fees: Approx: $1,200

Assessed Value: $9,042

Conservative guess on actual market value: $3,000-6,000

My main concern: Approx. 80% of the land is in a steep wooded ravine

Is this worth pursuing? Any thoughts on this would be much appreciated!

Thanks,

Matt