Thanks all for the replies.

Stinkingwaters, flood threats are non-issue. Home, and majority of property sit up 75 +/- feet above the river, on a bluff of sorts(well away from the edge, non slide hazard as well. River here only gets to around 6' at its highest winter flows)... hard to describe. May try to get some pics up if I get a chance.

Property owner has acknowledged the detractors of value associated with said misc. structures.

Dogfish, thanks, it is in Benton Co., Oregon.

By my ROUGH calculations, in a perfect world, financed as I mentioned above, using 6.35% for 15 years, I'm looking at a little over 100K in interest, on top of the asking price of $249K. Essentially, making the property as it sits at the moment, around $360K(obviously ommiting all fees, etc.). Assume I remove all structures, and build a modest 2600sq. ft. home at roughly another 100K, I'd be into it around $460K. Then the question becomes, when would the property be worth enough over that to be worth all this hassle, and what is the feasibilty of finding a buyer for this location...