I've done 3 live in flips and just finished off our principal residence, which was buying raw land and moving an older bungalow onto a new foundation. 

That and the anticipated risk of buying raw land in the heart of the GTA,  the chance that it will not become more and more in demand as Toronto turns into Canada's new York.  

I think it is due to the massive migration of equity rich Cali refugees.All raw land was priced for development and they are holding out.

It’s an off market, 89 acre tract. I have been communicating with the executor of the estate. It contains approximately $35-$40K in timber. However, the market is down right now, so that could be greater in the future...

Not sure how this would apply to raw land, but it is just something to think about.Best of luck, and keep coming onto these forums!

They told me that with partially or fully vacant property they usually calculate the value based on raw $ per square foot, not income.  

In the end, we didn't find a property we both liked/wanted (most were approx $200K-225k for the raw land) and we ran out of time so my sister decided that she instead wanted to get some 1-2 acre lots in a lake subdivision with amenites (pool, pavilion, boat ramp, basketball/tennis/volley ball courts etc)...

Well, in this price range, we can't just go to Home Depot and grab some ceramic tile for these bathrooms either, so we ended up installing all natural stone and marble in them, the master bath took over $8K in just the raw tile, no installation, no backerboard, etc just in tile alone.

Like I said before, My name is Kyle Gibson and I own a company that specializes in conceptual marketing of raw land.

Here are the raw numbers:- Average price for the area is $131,000-Under contract for $82,500-conventional financing with 20% down, 5.8% APR-Average rent is $1100/monthThe property definitely needs some repairs, but we didn't find any red flags in the inspection report (needs some electrical work, but panel is ok, roof is ok, foundation is ok).