Once i have the network established, I might consider STR in future.

It felt like a no-brainer for the value of the land, but being able to utilize a traditional mortgage because there was a clean yet simple 3 bed 2 bath house on the lot made the deal even sweeter!

I am estimating at least $50,000 between furnishing it and updating.How does this look:$1.3 million with 20% down DSCR loan buy-down the rate from 9% to 8% 30 year = $9,332 (principal/interest/tax).Utilities - $750Income - Was thinking $250 per day but let's say $225 per day for each unit (30 days) just looked at AirBNB and AirDNA in area = $13,500 (.20 vacancy) = $10,800.I would manage it, but still need to think of cleaning fees.

Turn over cost when your tenants leave (check leases), marketing cost to add to the placement and monthly fees from PM, and utilities if those are provided by the landlord.What's your exit strategy?

Utilizing the years of experience from the people on the forums will allow me to talk intelligently with a realtor, the property manager, the seller, and so forth.  

Let me know if you want to talk in details about more strategies to utilize your equity and congrats on this property!

The basic idea of having an appreciative asset that I could potentially utilize later in life in a multitude of ways is exciting. 

I imagine a lot split would also significantly increase cost of utilities as now I would have 3 hookups in that scenario.I am also concerned what would happen to that sweet 3.25% 30 year fixed mortgage I have, which I don't want to create any risk over in the slightest.Any advice on how to frame my counter arguments would be incredibly appreciated.

But, if you pay utilities, it might make sense to add a bit for the extra water / electricity.Personally, I would use this as an opportunity to tear up that 3 year lease. 

I then spent a majority of my free time learning as much as I could on the different styles and strategies that have been utilized in the past, reading everything from Lynch’s One Up on Wall Street to Graham’s Security Analysis, to learning how to build out financial models in excel.