When I was a youth, "waste land" might be had for around $40/acre. With the value being determined by grazing lease value. I imagine west Texas grazing value of this place might be $5 (or less) per acre per year. Cheap land used to be available in Arkansas, west Texas, New Mexico, Arizona. In Arkansas, it was primarily recently harvested timber that was ~30 years away from producing a new crop.
In west Texas, land without irrigation prospects values has been supported mainly by oil production prospects. Now, it is being held up due to sun and wind power production prospects. I understand royalties paid on wind and PV land can be around $1k/acre/year.
But, this is an interesting project! In an area that with which I am familiar.
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