The pros and cons of this are wide.

Newark has a few newer charter schools doing a good job, but the emphasis city-wide has been on tying to turn around schools.  

See http://www.rld.state.nm.us/uploads/files/Small%20O... for a list of possible offering opportunities for small state-wide offerings. 

I obviously noticed the angle that I had in knowing about these properties when they weren't listed on the MLS.

This person has a non refundable binder which I assume he would lose if he could not complete his end of the agreement.I understand that the contract would dictate what happens but are there any other options or angles on this ? 

(for that specific area).There is quite a wide range, some have sold for $2,000/acre and others $400,000/acre.

Prices can vary widely. 

Better for flow and taxes than a straight flip, but arguably more work because of the management angle.

After tearing down the building, a double wide will be placed on the land for rental. 

Materials can vary widely in pricing, so get labor only bids until you have a few projects under your belt.