This would be in central Jersey which is still a hot market as a result of record low inventory.I am planning to do this strategy since I want to put low money down (10%) on a construction loan and achieve a quick build to lower my holding fees. 

The information contained in this post is not to be relied upon.

Looking forward to knowing you all and being part of this larger group.

My plan is to fix this place up then STR.

My main concern with this this is it's a separate asset that has to be attached to the structure.What happens when you need to have the roof replaced they're going to have to detach that thing.

Originally it was going to be a flip as the rehab will be super light and I thought it would make a great first attempt at fix and flip.It is $329,000 and after just paint and a few cosmetic touches (no more than $10,000 total), I was going to list it at $400,000 with confirmation from my realtor that things are moving quickly in this price point.

I love this and do a similar exercise with our properties.

Don't over think this, pull the trigger actions create results. 

but, we only know what you posted.hope this helps

I've asked this seller for any documentation he had and he's yet to provide anything.