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? 

As @Mike Dymski mentioned, most syndications don't cash flow all that much for the first few years and are highly dependent on refis/exits to produce the bulk of their returns.

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.

I have thought there must be a way to order materials in bulk to get a better deal now that I am doing larger volume, but haven't found anything obvious.