You probably don't want to pay for more than 25% of the final sales price for the land.You need to have a solid idea of how much it costs to build the vertical construction per square foot and how much development and "soft costs" per square foot.

I'm thinking that your numbers and those of other respondents doesn't include any soft costs (design, permits, utilities to the parcel, etc).  

Maybe $180 to $250 /SF, including soft costs, but excluding land is not so good? 

The wood floor inside is also slightly soft.

if not and the sheetrock isn'tsoft - scrape , spray bottle bleach , let dry ,skim with joint compound & paint bad areas with Zinzer B.I.N and paint with semi gloss ceiling fans only workif they turn them on, semi helps repel the moistureIf the sheetrock is soft, rip it out and replace, the picture doesn't look likeit's serious enough to need that though.

If not, moisten a soft cloth with this solution and wipe the surface.

I'd look at a soft white on everything, including brick, and black railing.

I would suggest you paying a local zoning attorney in your area to evaluate the deal and your property before truly throwing in the towel.

run it 4-8 hours in each room. for a bedroom, put a towel underneath the closed door. 

@Rich Hupper timber is not universal.. what is valuable out here in the west may not be the case out your way.hard woods are not nearly as valuable as soft woods per acre. simply because of how they grow.think of pine and doug fir trees.. 3 feet around and straight up for 100 feet  and a stem every 5 to 10 feet.. think of Hardwood big trunk big canopy stem every 100 feet plus.. simply no where near the board feet per acre.Its not uncommon in our area to have 50k bd feet per acre were in hard wood country it could be a tenth of that. but I digress into logging minutia that most folks could give a rip about.. but I made millions doing it  LOL.. so there. !