Just in case.Ultimately whatever correlates with your future plans but a solid way to build long term wealth.

In addition to STR'ing the main house, he is building 2 more units (ADUs) on the back side of the property.

Hoping for $325,000 for the build (budgeting for $400,000 with overages).

I know a lender that can help with both states that does investment lending for very cheap, it would be worth a connection as you look to build out your team no matter what you decide.

Mine is a 2022 build  Hey Ryan, Your property checks alot of boxes for me for a MTR focused on attracting families as a whole home rental.Single story, Good school district, Little to no competition on Airbnb, No HOA.I bought a property once in 2015 and it barely cash flowed as a LTR but now 10 years later, I cash flow as a LTR about $600 per month. 

Cash flow approximately 350 a month.Option 2: Use the cash to buy land to build a 6 bed 4 bath duplex, all in cost approximately 300k/330k. 

Get a overall monthly rate for building that does not change and include in rent. using a 60 percent ocupancy rate splitting cost  for tenants!

Ideally flipping to build up some capital then holding when it makes sense.P

It makes sense for your new build but you'll have leverage something (fixed rate) to get out of that loan. 

Bonus Tip: If this quadruplex is out of state, I’d highly recommend building a reliable local team (cleaners, handymen, etc.) and maybe consider hiring a co-host or VA to help with day-to-day tasks, especially if you scale up.