We simply cannot take this person anymore.

I like Omar's suggestion of allowing a mentee to simply be a fly on the wall for existing business you are working anyway. 

Deduct an appropriate amount from what you think it will return.All that said, if you have plenty of other investments to make you comfortable and you are simply intrigued with owning a large manufacturing facility in Wisconsin I say do as much research as possible and then go for it.

Most would simply pay the past due ground rent to protect their interests.

My goals are simply to become financially Independent using real estate.

It's the same value going in as it is when it "dies" in the house.When cash/money is a verb...you win.

@Pundari PothiniRemember that syndication is simply obtaining investment capital from many sources (investors) instead of just you/the owner.

And that advice might simply be: don't go after cash deals and look for ones that offer financing options.

Lastly, is there any contingency if you win the bid that allows you to do an inspection or at a minimum walk the property prior to getting legally bound to a sale?

., if you're in the 30% tax bracket, you cut your earnings by 30% to account for taxes, or if you simply leave as is since you'll likely have most of your income eaten up, on paper, by depreciation and expenses?