The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

I looked at their booking calendar one time and thought it was pretty empty.I guess you don't know until you try...and probably depends on if you want high occupancy or high rate?

My main concern is the interest rates being so high now as to whether what I'm hoping to achieve is really even possible. 

@Travis Boyd The quality of the neighborhood will affect the cap rate to be used.

You’ll pick up so much just by listening to people who’ve been through the highs and lows of the market.

He prides himself on having "realistic" standards and claims to value inner qualities over appearance.

You have a lot going on and if you had a 457 you were a highly compensated EE.   

I'm not mad, most everything you said is (shockingly) incorrect and appears as though you actually don't know how IBC using high early cash value works. 

I am certain, I have many more questions and things I should consider and look forward to reading many of the informative posts on the website and look forward to hearing your advice, thoughts and/or questions.Thanks!

Research high-traffic areas or underutilized lots near event venues, hospitals, or transit hubs.