I spent 6 months in Tulsa and my brother currently lives there and he works for lumber supply company.

From the information you gave, it sounds suspiciously like a parcel that the developer of the property next door needed to reserve as dedicated open space for the housing he/she built and is now looking to unload the tax burden. 

we then sold it about 5 years ago to big lumber firm for 3 million .. that was a nice one as well.they don't call them Timber Barron's for nothing LOL..  

He gave me bad rent numbers (that I admittedly did not properly vet), he pressured me into going through with the deal because he did not want to look bad to the listing agent (and I let him), and now my wife and I are the sucker out-of-town investors who bought the property off another investor who was trying to unload it in a weakening market so he could pay off his local hard money loan and pocket a decent chunk of change in the process.

If you want the experience, consider building the living quarters with traditional lumber and cut your own trees to build out buildings or a garage.

Our local lumber yard can't even source complete lumber packages.

This could haunt you as rates get higher and higher, then you may have trouble unloading the property because the buyer has a tough time finding affordable insurance.

Lot of times when the banks do not get their expected $ then they turn to auction.com and unload it

I used to rekey locks myself when I worked at my dad's lumber yard. 

WE hire a specific sub to do a specific job.. not a rehab contractor trying to figure out all the different trades... and all these subs have credit with the exception of the lumber package and truss's that we buy direct from the supplier.. everything else coming on the job is paid for up front by the sub contractor and once in place is paid for by us one time a month..