Hello @Erik Bruns, welcome to BiggerPockets!

Challenge that notion and put some thought to what you can pass off to others.

We're discussing doing this as a buy-and-hold vs a flip.He owns the land (notionally valued at $200-250K).

And I like the notion of a friendly little happy face sign on your side but above the top rail "Smile you are Camera"......Then there are some good camera on a pole ideas above. 

Not sure where you get that notion of Lakeland crime is b-a-d ....... all major cities has its share of B.A.D areas and lakeland is no different, but lakeland in my opinion is wonderful and growing strong. 

Then an offer sort of fell in my lap.I strongly believe in the notion of creating your own luck through mentioning what you're all about to everyone you come across.

So the notion that the OP can just say you are fired with no further financial cost is nonsense.But let's assume the OP decides to just fork over the money and pay these fees.

I really like the notion of collecting remaining deposits over time in the form of installments if need be.

I went into this exercise with some preconceived notions about the current rehab/flip arena based on my experiences just 2 years ago.

BTW, I know the notion of becoming a full time real estate investor is an enticing one, but I strongly suggest you meet with your real estate mentor(s) and accountant to determine if you can quit your JOB.Far to often, an investor will go full time before he or she is really ready to do so financially.