if you have NEVER done a build job or spec i think that financing will be your biggest hurdle.also your cash position is quite weak.. sometimes vertical lender will over look experience if you pay cash for the dirt.but leverage and no experience leads to no deal.. this would be a decent deal for a local builder given carrying cost sales costs etc etc.. how much they would cut you in for finding it and providing a little bit of cash is up to negotiation of course.

I would refinance, cash out, keep the property Buy a nice house in Marin county for 900k( if you have a child, the school and weather are amazing)I did the same 3 years ago when I left the city after 8 years and never looked back.

Hey Everyone,I've got about 51,500 in a TSP account that I can't contribute to anymore since I'm no longer in the Marines.

Had some great friends in the Marine Corps.

I spent 5 years with the Marine Corps. 

As a former Marine, I didn't know much about them at first either.  

Maybe it is the Marine in me but I would not take a knife into a gun fight.

I was in the Marine Corps for 6 years so I am no stranger to hard work and dedication and would love the opportunity to learn from all those willing to give advice and constructive criticism.

FYI - City marine, and I assume others, charge a primium to owners who do short term rentals.  

The information though marinated in my head for about a decade and when I finally was ready to use it I'm glad I had that basis of knowledge to utilize.