Tourists, retirees, and seasonal residents provide a steady stream of potential tenants.Lifestyle Perks: Let's not forget the amazing Florida lifestyle!

NeighbothoodScout shows appreciation for this century at 3.64% or ~$10.5k/year plus there will be equity pay down of -$2.7k. ~$13200  (forecast equity increase) -$4200 (cash flow) = $9k First year profit ideally that will increase annually.  

Start by leveraging your skills to identify undervalued properties, perform cost-efficient renovations, and build sweat equity.

The amount of equity I call pull is less than the cash I have but not significantly less.When doing this analysis it struck me that it may not be worth using a HELOC for the simple fact that the interest rate is ~9%* while the funds in my high yield account are only yielding ~5%*.

Building equity in your house is one of the biggest financial advantages of homeownership.

They have equity in a property or two and are hesitant to deploy it.Other investors I have worked with have found if they deploy this equity into a newer property as 25% down payment, they are able to find deals that work very well. 

The seller would use this strategy when they don't have a lot of equity in the house.

I'm not sure I can copy and paste my Excel spreadsheet, so i will approximate the numbers here.Strategy:Take a Home Equity Loan (second) on our primary @ 5%.Pay off existing HELOC (variable, at 7.5% now), use remainder ($120k) to buy the land (plus 30k of our own cash).

It would be his primary residence so most likely a duplex or triplex house hack. 

This either sounds like a seller looking to "retire" and liquidate his holdings or a Section 8 owner that hasn't kept the property (or rents) up to market levels.So, based on the numbers you're using, what return (IRR, Equity Multiple, or ConC) are you estimating you'll generate over your expected holding period?