Minimize expenses and pocket as much of that $60k as you can.

I’ve already put down a $2,000 earnest deposit and paid for the inspection and appraisal.This event is unprecedented in the area, as the area is typically low in violence and considered very safe.

Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

Other properties in that area of similar size and vintage in good condition have sold in the low $200s and rent in the $1600-$1800 range.  

That's a very low amount given it's a commercial property.

Bad customer service (from the partners), unprofessional client information management, ridiculously long underwriting, and I’ll add this..a low-key throwing of their loan officer under the bus for information “he did not know” or “must have been mistaken” about.

We have managed to build a solid liquid nest egg, but I'm hesitant to lock the majority of it up in a low LTV mortgage on a really expensive primary residence.

Starting with a trailer is a smart, low-cost option.

Bought house in 2020, so instant cash flow given the low rate and price.

Treat this property as a business and factor in all the associated expenses, including mortgage payments (if you pull a loan), maintenance, and potential vacancy periods.To simplify management and make this less of a hands-on job, I’d strongly recommend working with a property management company.