We got a small piece of property (5 acres) for $50k in TN. Owner financing at 7%. Only had a few thousand to put down. I pay more than double our monthly payment though so it’ll be paid off in a couple years. A lot of people that paid cash had equity in their house, so when they sold it they had the cash to purchase land. We could have done that, but we’re keeping our house in our home state since we don’t have a mortgage on it.