For me to make a traditional offer it would have to be very low to make my numbers work.  

Any insights or guidance from those who have embarked on similar projects would be greatly appreciated.The property is raw land, offering a blank canvas for a variety of development opportunities.

A wholesaler contacted me and they wanted $140K and I offered $110K and they accepted.

Are all-cash offers at those prices common these days?

For example if a agent stands outside a open house, you approach them, they show you the property and makes a offer, it automatically binds Agent-Client relationship although there was no specific contract entered between parties.Quote from @Khalid Bryan: @Joseph Weisenbloom has it been fully executed?

Offering $120K whcih is pretty good for the conditions and worse/smaller homes selling for that. 

@Jacqueline Lee I'll 1 up what @Evan Polaski mentioned....Each jurisdiction and city is going to be slightly different, but at the surface there is generally slightly more paperwork to get your property approved and into the system, but once you get it up and running and the first tenant in there, its generally straight forward to get the rent increases etc.A good place to start would be your local housing authority, they may even offer "Landlord" classes to understand the system more.  

Do they have an SEC offering?

This structure offers lower income and capital tax rates compared to other entity options.However, owning real estate under your name has disadvantages such as the imposition of the estate tax, the requirement to file individual income tax returns in the U.S., and the consequential lack of anonymity.

At RAD Diversified, we offer investment partners the opportunity to invest in income-producing farms and cash-flowing properties like residential & multi-family with substantial value-add opportunities.