Is this an awful deal like I think it is?

Been browsing the forums for awhile, learning as I go. Ordered the 10/20 book and anxiously awaiting its arrival.

So I was browsing properties in my state, and came across this. Price has been reduced by a hair under 1.4 mil. Based on what I have read and what I understand, this is pretty much the worst deal on the planet. 103 lots with ONE home in already.