With this scenario we both have skin in the game: His work and my materials.

Sorry for the long winded back story, but end game is to put a A frame on the existing 20x40' stem wall above near where I"m standing, and put some stairs into a drop down area below for chairs/fire-pit overlooking the river canyon below (but out of view) under where the drone is flying.

Determine the most likely sales price of the build (factor in the cost of the land also) and include all selling costs to arrive at your net profit and ROI. 

This doesn’t include any raises or bonuses.No kids yet, but we plan to have them down the line.Both of our credit scores are over 800, and we have no debt.The plan:I know sellers don’t always love FHA loans, and they can be tough to get approved for, but I’d like to use one to make this work.

Compare this to your total monthly costs, including mortgage, insurance, taxes, vacancy and maintenance.

Run the numbers as if you leased the property from him at 10% x the value of the home( not including 1,000 acres) in lease payments @60% occupancy.

They want to put 75% leverage including interest only 3-4 year term loans on their acquisitions. $600M total potential acquisitions.

You just have to get in the game, learn, and adapt as you go. 

I vote for gladiator games; last man/woman standing gets to post 🤣

I was in a similar position a few years ago, but fortunately got married and our combined incomes helped us qualify for a larger house hack.We're on our second one in NOVA, Alexandria to be exact, and instead of rent by the room, we are renting out our walkout basement on Airbnb to monthly guests.That said, we have a number of friends doing well with rent by the room across NOVA, though they're purchasing homes with 5+ rooms or finding homes that can be renovated to include that setup.I'd recommend attending meetups such as the one I cohost, NOVA REI or Cashflow Breakfast Club or any of the others to meet those who are house hacking.