You could very easily lose that on a home purchase as well. The interest is heavily front-loaded, so your principle will go down very slowly at first. Factor in closing costs, maintenance costs, market-fail, and you're bringing money to your closing instead of taking it away. Seen it happen in East liberty.
Also, if you're not used to a rural property pay attention to the heating/cooling/water/plumbing. Septic systems get super expensive if shit breaks, electric heating costs a fortune, Fuel-oil costs a fortune, and well-water has it's own set of potential problems as well.