You need to double check underwriting, conservatively project disposition, and stress test the metrics.

I'm interested in following this project when/if you kick it off. we have this in columbus. 58 rooms on .1 acres. 28000 sq ft. but this site the land is 50k it's set same as columbus but in miami dade county but sounds good. are you more interested in the miami one or the columbus one? 

The land purchase will be one of the biggest tasks of your project.

You have to realize that if we get another euphoria in the general markets(RE, equities, bonds, crypto, gold, etc.) then places with scarcity in RE will definitively be a pressing subject.

Replacement is pretty straightforward; if you're handy, it's definitely an easy DIY project.

You should cover the mortgage and all other expenses, actual or projected.

That's a big project. 

Whenever Baltimore comes into the picture for you, I'd be happy to show you around my projects here!

Now some other investors may believe they can boost your revenue quite a bit but they don't want to pay for that projected boost. 

Happy to assist you and your wife in any way that I can with your funding needs as well as advice/input on your projects.