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 love the idea of fix & flip right now @Abigail King, especially right now here in Chicago and I am sure it is similar for you in central Illinois -- it's winter so there are way less buyers and if you can get under contract soon you can likely rehab over the winter months and hit the spring market!   

I hear people talking about air flow etc.

I've been an STR host for 2 years for my 2 STRs,  I want to do this for 2 or 3 more years and build up as many cabin clusters (starting with the 10 I'll own this spring) and maybe additional SFH, as much of a direct booking presence as possible and as much goodwill in the OTA listings, then either sell it all to someone or hire someone to operate the entirety.

By the time Spring comes around, they are used to the new rent.I have low turnover in part because my rents lag the market.

After I got rid of Joey (along with my money), I slept on an air mattress in one of the bedrooms for ten months and worked on the house as much as I could, sometimes paying for help.

Families, snowbirds, spring breakers, and everyone in between flock there year-round.

It feels like DSCR lenders are catering to BRRRR investors more now than ever with short seasoning guidelines, air tight DSCR requirements (1.0), etc. 

Our occupancy rate has been higher this fall, using Airbnb and VRBO than it was during the summer and spring months, when we were listed on all 3 platforms.

(Class B built in 2003)Would there be a rate change between the recourse and non-recourse with a springing trigger?