Would you build a Vacation Rental from scratch?

[Micah Starbuck]

I'm in a situation I haven't experienced before and looking for some input.

My father owns 5 undeveloped acres on Long Beach Washington.  He was originally looking to sell it but I approached him with the idea of dropping a house on it and using it as a vacation rental.

He's open to the idea but neither of us have done development of this type before.

I know the questions we need to answer are: 

1. Financially, Is this is a viable plan?
2. If it is possible, what type of building to do (BnB, single family home, multiple small cabins, RV park?) 
3. Property Management (He lives in Japan and I'm in Utah)

If anyone here has done this type of development before I would love to hear your input.  Or, if any of you know folks in the Long Beach/Astoria area who you could connect us with I would greatly appreciate it.