Many investors would rather have their money today rather than many years in the future, and the “waiting game” is arguably the biggest drawback to land banking.https://retipster.com/land-ban...I have met Cody personally and I do know he is  knowledgeable at getting land entitlements.. this is a land entitlement play NOT a LAND BANKING play..

Rates are hight right now and if your primary residents has a great rate the HELOC normally is the smarter play as long as your have repayment plan that allows you to risen and repeat.  

Any insight on whether the ROI would be worth it or other considerations I am missing would be much appreciated.I have a similar looking 3rd floor space that I just finished making into an office/bonus room.

A crash will not happen due to inventory(local-regional factors at play), but you're pricing for general correction upon the eve of the slow and doomy Q4.

The house will stay in my father's name for now, so we want most of the repairs to be paid by him for depreciation purposes (he will be doing cost segregation and taking bonus depreciation later this year).

This is a DSCR ratio of 2.01 and an annual cash on cash return of about 34% (30k cash invested) This would be a good long term play.  

Appreciation is "bonus".

Thanks for your replies.Bob P- you said "You will become involved in a lawsuit if you proceed"  How do you think that would play out?

Sure, they play pot odds and ensure they only take on good cases.So... it depends on your W-2 hours spent... and your tolerance for pain (risk).

The appreciation play is just hard to come by in the SW part of AR.