Close to the University of Virginia and a large research hospital.

For $10K and a lower rate I'd be willing to consider delaying...but only if I knew that lender two was solid on closing in a relatively short timeframe.

And as others have posted, make sure you are using a good title an escrow company to facilitate this.

.- Could take all current cash flow and a few thousand a year to pay off the property in 5-10 years.- Hold for a bit and 1031 into something else but am fairly confident there is not much appreciation to come on this property.

In Franklinton there are plenty of large projects going on that will bring massive growth to the west side of Columbus, such as the Peninsula Development, which is a multiphase project that will erect a 24 story apartment complex featuring a grocery store, a multi use office space building, and a new hotel featuring a two-story venue. 

ALWAYS ensure the contractor walks the property with you or the realtor and a CLEAR scope of work is defined.

Don’t have the time to do property management right now however as I have a full time W2 (accredited investor) and a family to raise. 

This kind of community is designed to attract certain individuals that share the same values for the outdoors, smaller living, and a healthy community. 

As you mentioned intentional flips are typically considered inventory-This means the income is ordinary income and as such: - Is not a capital gain, so hold time of 1 year does not change to a better long-term capital gain rate - Can not be invested in a QOF Deductions related to it can't be pushed or changed- all costs are accounted for with the inventory component 

It sounds like you've got a solid foundation and a great game plan, especially with your background in North Padre and passion for fishing, which could really set your STR apart.