If it is a small place and will only be 1 or 2 people then you may even get away with an electric model.I have installed quite a few of these and like them a lot.

If the foundation, Plumbing, electrical, and roof are already there, each unit should be no more than $10K to rehab.

You really don't know what you're working with or what you have until you get down to the brick and the framing.But if you look at the wall there on the 2nd floor, and notice the 6 (actually about 7 or 8) outlets on the wall.... somebody went cray-cray with the electrical wiring.

(The 30 lots that exist currently are barely using 2-3 acres) Would have to clear out trees and run the water and sewage and electrical.... the whole nine yards.

In general you are looking at all the electrical to be in conduit. 

Electrical work in Florida requires a licensed electrician, not a handyman.  

Thinking of upgrading a 3 family I have, but with the coin ops and electrical work, I'm figuring about 5k total to get going.  

5th pic: Framing started All plumbing & electrical was done - WE are now sheet rocking both floors and will share some images once we are done :-)

Couple things to think about with regards to spreading people out from city centers:Even if the 2 hour commute is tolerable/desirable etc, there is still fuel/electricity that has to be spent during that ride.

To get it in that condition would be roughly (and I've estimated high on all of it)Upgrade to hardwoods on second floor, and refinish first floor. 12KPaint interior 5KUpgrade appliances and plumbing fixtures. 5KUpgrade electrical fixtures (some have been upgraded to stylish black wrought iron look which is popular here) 2KNew HVAC first floor (second floor HVAC replaced already) 5KLandscaping 5K (this may be really high, but I figure it pads the other numbers in case something comes up)Total rehab 34KSo we've had some investors come and look at the house and offers range from 290-300K.