Looking back my whole plan was based on 5% mortgage rates.

I have searched for other places based on owners responses to guests. 

I'm purchasing in New Jersey and I have been looking for a way to establish a land trust, but reaching out to lawyers, there does not seem to be much dealing with this (most don't know what it is). 

Why land trust?

This is certainly text book and absolutely the proper way to analyze a deal.Im not sure what he owes on the home but based on the payment and the year it was bought and the fact that its 20 min from Austin im just going to throw out 500K for conversations sake.500K compounding annually at 3% for 5 years comes out to approx $578,000, and you have the loan paydown aspect as well obviously. 

This property is ideally located in northeast Colorado Springs with easy access to military bases, shopping, dining and entertainment.

You don't know what a good property is because you are basing it off metrics from a couple of years ago or the one percent rule.

I have a few ideas based on research but I'd love to hear people's opinions. 

So here's the situation...Your goals and story: Last year my wife and I bought a tiny house and a little slice of land in Fairplay, CO.

I might also suggest that you use a chat application based on IRC.