@Roy N. and Jeff Beard Thanks for your responses...you summarized the options well.While the property might be beautiful, if the numbers don't justify pursuit then the right thing to do is walk away.  

Here's  a post to help you understand the cycles:https://www.biggerpockets.com/member-blogs/10850/81214-what-goes-up-must-come-down-or-market-cycles-fluctuationTo summarize, when evaluating any investment, you have to look at all three things in combination: a sponsor, a market, and an offering to see whether it makes sense long term.

So based on the calculation you would pay 3M because it's a good deal since the market value is $3,197,250.To summarize the different scenarios we have discussed so far:- if the property is listed at 2M, you would pay 2M because you calculate the market value to be $2,144,000 therefore it's a good deal- if the property is listed at 2.5M, you would pay 2.5M because you calculate the market value to be $2,670,625 therefore it's a good deal- if the property is listed at 3M, you would pay 3M because you calculate the market value to be $3,197,250 therefore it's a good dealWhen is it ever a bad deal?

Lately I started to learn Real Estate, I’ve summarized “The ultimate beginners guide to real estate Investing” and I’m continuing to summarize interesting articles.

Investments by Berkshire Hathaway in equity securities as of March 31, 2013 and December 31, 2012 are summarized in a table on page 8 of their latest SEC filing.

This is the information: Register of Deeds - Greg Summars (731)635-2171

My primary goal is buy and hold (with property management) for long term wealth building.Congratulations -- You just summarized my core real estate investing philosophy!

To summarize, the agent said I can represent myself and he can do paperwork.

Thanks for all the great info.Just to summarize:1.  

. , thanks for summarizing my situation and the feedback!