@Kyle Reedstrom looks like an interesting project.  

Additional Resources to check, 'FYIs', in case you want to learn more about rezoning in the future)-Look up your address on the city's zoning map here to see how properties in your immediate vicinity are zoned.

Im just putting deals together and working on finding a new project for myself.

A common pitfall is treating each deal as a standalone transaction instead of connecting acquisitions, financing, and project management as part of one cohesive process.

Purchase price: $62,000 Cash invested: $60,000 Project in progress: Off market dealPurchase: $62,000Rehab: $60,000ARV: $165,000 What made you interested in investing in this type of deal?

You need to double check underwriting, conservatively project disposition, and stress test the metrics.

I do not judge anyone that sees a high projected return and becomes interested.  

Quote from @Ben Trageser: If you live in your short-term rental (STR) property in a future year after claiming depreciation, depreciation recapture does not occur immediately.

Having a rock solid SOW can prevent many of the issues that arise during any project.

On the flip side, the margins aren’t quite as high as with rehab projects.