Additionally, I verified that the parcels are buildable and analyzed competitive market prices, which suggest high profit margins.

He's a legit guy and we are now on agreement to purchase an additional 66 acres. 

Sec 8 here also inspects the home each year, in addition to your PMs inspections (if you have one).

I will answer as it relates to traditional BRRRR, in the general case there are additional options.  1) Do not perform maximum cash extract.  

That no additions or remodeling was completed without a permit.

This reminds me of the story of a wall-street banker convincing a fisherman who already has time for his friends / family to instead scale his fisherman business(get employees, integrate, then sell the business) all of which will lead him to be able to spend time with his friends and family.It already sounds like you have a great life - spending time wth family and in great health.Having additional money doesn't sounds like it would improve your life that much.

If you need any additional insight, feel free to reach out.Breeya Johnson 

Thank you for the additional info.

This will give you a clear idea of what the house might be missing, and or need and gives you time to make those changes/additions before your first group.Another tip: I think it is natural for bigger properties to have more vacancies during the week/slow season.

It will protect you for cheaper without the additional complexity.