If he has the kind of equity he states, they shouldn't have an issue with doing this, and placing the amount owed onto the principal, and perhaps spread the loan term out to reset at 30 years, or even going to 40, which would lower his monthly payment, and lessen his burden, which is what I am guessing got him in the trouble he is in now.

So, the land comps must've come in lower than the $13K, or the other offer is being more conservative.The key is to make sure there is a demand for the land. 

This is where you can lower the price even further on them, because you have the leverage back. 

One area may be lower-priced for a good reason, but even just a few blocks away, a similar property would be a great deal. 

All the water wells are on one lower lot and could only drill 4 wells, did not want to do shared water wells as that usually means big big fights around here.

@Rena Spooner, in general terms, buying a second home a the top of the market will lower the benefit (in coming years) of having initially bought at the bottom of the market. 

Did not notice any sounds.Main road properties might have a lower refinance and sell value (not sure on this and would like more advice).So I would like your opinion on this property. 

They tend to draw a more difficult tenant the way a lower class house would.

You are going to find more issues with lower end,fixer-upper properties than move-in ready.

They are also looking at buying up to 4 properties in 2018 for up to 10 million each.I tend to agree about apartment buildings in that tenants often work minimum wage or lower tier type jobs and are exhausted on the weekends and want to relax with friends and family.