Lee,
I'll try to respond from a landowners view...the money sounds reasonable, but an even better deal for me (the landowner) would be the stewardship your team exercises over the property. If you would say you would take care of the property just as if it were your own and mean it and follow through, then that would carry a great deal of import to me.
It sounds like a win-win and I hope you are successful. Depending on your mutual trust, you may want to consider a formal leasing arrangement to protect both parties. Good luck!
