Just so far beyond the houses you'd get for $150K - and it is on 2 beautiful acres with a two-story barn shed, a two stall attached garage, and another detached garage for toys.

Thank you all who've answered my query.Just to shed light on a few things: 1.)

@Ed Matson I appreciate the insight on your property's operating performance and it really sheds light on the understated expenses on the current deal I am analyzing.

He bought it in 2006, pays $6k yearly on taxes. maybe someone can chime in and shed some light.

It is a very large yard that just had a small shed on it.Thanks for the help!

Matt, I can't answer your experience questions, however I'd like to provide some insight into my situation, as I think it will shed some light on yours. 

Bought those in 2009-2010 and still ended up doing very well, so don't shed a tear for me :)

(I recently had a buyer back out because they found out that sheds were not allowed per HOA CCR's)If you reserved the right to have a survey conducted, you may be able to terminate the contract if something shows up on the survey that is not acceptable to the buyer (a drainage or utility easement that was unknown, a fence that is over the property line, etc.)Deals can fall apart over financing, as well.

I believe that we are in a  major, prolonged tech boom that will last many, many years and am interested in this market.Wondering if there is anyone operating in the area that can shed some light on the market based on personal experience?

If you do it long enough you can make a claim you have the right to do so.Another one is when you set your fence, shed, or deck, or even part of a house expansion partially onto someone else's property line.