A freshly negotiated land lease (not sure exactly of the lease details) would have them paying around $1300/ month (HOA included), and 4/2 condo's sell for around $100k at the moment (whereas fee land would be closer to a $500,000+ condo).

Thought I would share some interesting take aways from the event this weekend since they are fresh on my mind...Basically I believe the difference between massive financial success and almost being broke is pretty minimal.  

If you have no contingencies, you still have by default three days to deliver emd to escrow.

If you do use it, make sure you flush the area with plenty of fresh air.Check out this Link for more info.

For this reason, you might remind the seller of the limited buyer pool when you negotiate.You'll often want a term in your contract that the premises will be delivered vacant at closing.

  $100K in renovation is less than $10/sf, which is less than 2.5% of the build costs -- that would get you a fresh coat of paint and some new light fixtures and not much more. 

As beginners in real estate investing, we definitely need to educate ourselves and BiggerPockets definitely delivers. 

Fourth, the fees are in line with the value delivered.

Obtaining financing as a new Portfolio Manager fresh off the streets, down right impossible without some serious assets in the bank to secure the loan.  

In your location I imagine fresh air can be enjoyed much of the year and is an integral part of daily life (unlike middle Georgia where we keep the windows closed 90% of the year).