Certainly within striking distance. 

Its all about striking a balance between equity and reserves that is the key to success.BRRRR is a great strategy, but it requires lots of cash, either yours or someone else's, to start.

However, while I'm not ready to physically strike any deals yet, I'd love to continue learning until I am ready to dive in.

I suppose you could negotiate a strike price that floats down if the market declines but you probably wouldn’t want to because your objective seems like it’s not to sell. 

I am going to let the dust settle then after the first of the year go back to this buyer and see if I can put the deal together at the 8 million.. our strike price is 4.4 as we sit today.. the seller wanted to just boot us.. and keep the whole 8 million

You can strike impressions directly on the keys. 

Most of the real money is made sitting waiting and striking when the right deal presents itself.

It can be subdivided to add another 1-2 new construction homes on it, per the county planning department, but I still want to research this to understand it more clearly.The owner said he wants to be "free of this headache," but I'm not quite sure it's a bad enough migraine for him at this time.

@Greg Helbeck I started reading this and gulped...I thought this wouldn't turn out in your favor without jeeps and machine guns and perhaps a napalm strike over the property...

Sounds like if murphy's law strikes you would be in significant distress.