I am new so I have no idea of this would be a good deal or not.

I came across a property and met the owner. 4.5 acre lot. On one end of the lot is a 2300 sqf home that needs a full rehab (basement unsure if finished or not) and a solid oak barn (would be a good way to reclaim some quality wood). Property still has 250k mortgage on it, but it could be developed into something with more homes to it. He had the location surveyed and as it currently lays it could work in 4 homes (including the one that is already on the property). He wants 270k for the property.

I am reaching out to buyers and not sure if I should work a contract. I was thinking a sub2 would work and then transfering the sub2 to someone that has money or someone to partner. I just have no experience so I thought I would see what others think.

Surrounding area has some brand new sub division homes and is a decent but not amazing school district. (ratings of around 7/10).

I appreciate all of your feedback.