Currently I have just one unit, on the advice of our agent we offered 75% of the current asking price which had already been reduced 10% from the original asking price.

Having a bookkeeper would certainly reduce time and energy spent.

Key numbers:42 units, $1.6M sale price; EGI - $234K; Expenses - $122KThere's room to reduce expenses, do some value add and tick up the rents overtime...So, thoughts? 

This property gave me that opportunity to live a lifestyle I want, (Rural with room to play with grown up toys) as well as reducing my living expenses to almost $0.How did you find this deal and how did you negotiate it?

Besides, any EIDL grant received reduces forgiveness of PPP loan, so you  will have to pay it back 

I need to spread the land purchase payments out over 3 years for tax reasons... ergo, why the installment contract and not a straight sale.Couple of scenarios I'd like to protect myself from: 1)  How do I protect against the buyer logging and selling the timber, which is worth quite a lot, which would reduce the value of the land? 

Removing plywood over subfloors is giving me anxiety.

This is a perfect BRRRR strategy as I was able to get an extremely reduced price and there is a LARGE value add opportunity with adding an ADU and upgrading the original structure.

@Mike Perez New investors often think by buying low price properties it reduces risk but the fact is, it can be just the opposite.

So you will get poor initial cash flow and reduced appreciation.