New to investing - Own land and considering a new build

[Dustin McGee]

Hey everyone! I have been a fan of BP for years now but just recently got back on the site and listening to the podcast again. Wife and I bought property from my parents through owner financing. Property is worth around $75-$85K and we owe $26k on it. We are thinking about building a small (1200sqf) house on it and either doing a short term or long term rental. It is in the mountains of Virginia overlooking the Shenandoah Mountains. It is about an hour away from DC which would make it a great getaway rental, especially in the Fall and Winter. I plan to do all of the work myself ( I have building experience ) which will save us a lot of money. 

Looking for some feedback on the best way to finance with little money down, possibly using some of the equity in the land? My thoughts were to get a construction loan, build within a year, refinance, and hopefully have some capital for another deal later down the road.  

Would appreciate any feedback on how I can use this property as my first real estate investment. Thank you!