I am assuming that you have the parcel of land under your control and that it is zoned appropriately. 

Hello Russell, I didn't come out and exactly say I'd be willing to pay them as I wasn't sure if that was appropriate or not. 

They must get appropriate docs from you before they will share information with you. 

I'm practically new to this forum based website, but I see how one can take advantage of it to gain some knowledge. So as a general question to all, where do you guys go to get your legal documents such as Agreement t...

However, a nonattorney does engage in the unauthorized practice of law when he/she tailors a legal document by selecting the appropriate form document for completion.

If you are aware of the appropriate way to underwrite in these markets and are making smart buying decisions, I'm still of the belief that all these SE markets can present good opportunities. 

@Ryan Heywood, There was some possibility that a 1031 would have been appropriate.  

You can make money in RE in any market and any point in the cycle ... the key is choosing the appropriate strategy.

But unless you have some serious net worth, I do not feel like an LLC would be an appropriate choice for you if this is your first investment property.  

It's a terrible investment unless you have reason to believe your market is going to go way up.Don't ever buy a property thinking you "might rent it to students in the future" -- if you're going to rent to students, be aware that you're renting to students, and design it appropriately (for example, expensive fixtures are generally a bad idea in a student rental).