Your best bet is to read information from public blogs that approach both options objectively.

Hey @Mike Pepperday, AirBNB and VRBO are your best bet to see what kind of demand there is for STRs in general.

Plus I bet the contract calls for mandatory mediation.. if the parties cant agree..

Your best bet is to find one that has flexible membership options, without high spend requirements.

Even at $60,000 a unit - that is a $1.2 million deal... and realistically I bet they will be over $100,000 each... all just a guess... but when you get into these price points and you are "new to real estate" as your title in your post suggests - I think you are probably getting in over your head for a first deal.  

This will be used to form 9-foot columns up. 

I'm willing to bet that there are more instances of contractors burning investors than the other way around.

I think you're best bet for private money is going to be to network at the meetups (Red Stick REI, RING) and on FB/here.

The fact its in a landbank tells me that it was taken back for some reason, which tells me its likely not a high commercial demand for development, but I could be wrong.If it is "on the main drag" in this town then I'd think doing a new build home to do a targeted and intentional air bnb would be the best bet. 

I bet it would hardly move the needle.