For someone just starting out vacant land or ground up is probably not a good idea.

Is renting back to the same guy under these terms a terrible idea?  

We all have different strengths and things to bring to the table (I've done wholesale/option deals/Licensed | Partner A: Mobile home investor/note investor | Partner B: Wholesaler/Licensed/ Small portfolio...) but....As of right now, things have slumped, and we have no idea what to do now or what the next step is We market by: 1,000 pieces of mail a week (Which BARELY converts to anything, we get more calls asking to get removed from the list than leads.), scrubbing the public records for notice of defaults (a list you have to manually do as our county doesn't have the records online), bandit signs (but 3 wholesale players have entered our market and take down every sign we put up), door knocking (Which takes up too much time).

I have no idea how effective that is, but at the local REIA meetings I went to all year last year there were always 1 or 2 vehicles parked in the lot with the ads on them.

If you have specific areas or properties you are looking at, let me know and I can give you a better idea.

Any ideas fo creative wording? 

Is this a good idea?

No idea how they got my email address, but I'm happy they sent it!

@Prince Conley, you're on the right track with your idea of "don't touch/spend my initial investment and profit".

I also come to BP for investing news source and creative financing ideas.