Even without any interest rate cuts. 

However, if you ever want to replace that home, you'll have to move it off his lot.I would consider appraising the vacant land and trying to cut a deal that's fair.

I could lose my entire investment 400 times (and get 400 practice sessions in 400 days) for the price of the education, and if I couldn't learn the ropes well before I completed 400 deals in a single year, I'm not cut out for that business.

Also this property has a small 8 acre tract cut out of it with residential homes on it.So my question, what is my first step to get this property looked at to see its potential.

Russ has a lot of creative solutions and uses established case law to work in ways that some of the more "cut & dry" intermediaries do not.

The closest I've come to your situation is similar to one in which a tenant wanted to cut the grass, for which he wanted to get a reduction in his rent.

Cuts out 80% of communication and collecting demands with tenants. 

More rate cuts coming.

Prime is currently 7.75% and likely to drop by 1-3% during this fed cut cycle over the next 1-3 years.  

Or she just cuts you out of the deal somehow and doesn't give you a penny and she's dating a mixed martial artist bouncer now so what are you gonna do, etc.