One would need to be a serious sucker to value some Airbnb 5 star reviews and some sheds in the backyard at $200k+.Not necessarily. 

The fact its in a landbank tells me that it was taken back for some reason, which tells me its likely not a high commercial demand for development, but I could be wrong.If it is "on the main drag" in this town then I'd think doing a new build home to do a targeted and intentional air bnb would be the best bet. 

I am a sucker for houses with character/old houses, so I had my eye on it;) How did you find this deal and how did you negotiate it?

Your best bet is to find one that has flexible membership options, without high spend requirements.

Hey @Mike Pepperday, AirBNB and VRBO are your best bet to see what kind of demand there is for STRs in general.

@Robert Lum  you bet you can troll around a site like BP read their books listen to the pod cast of those that are successful and talk about their business's.. its inspiring and motivational.but if you really want to learn the nuts and bolts you need to get in the game.the best and least expensive way to do that is to simply take a pre license course in your state.. learn the laws ( the real laws not the BS that is talk about on line).. terminology etc. then go to work with a brokerage in the aspect of Real estate that interest  you.. there you will get REAL training by those that are successful you get on a team.. you get paid as you learn.

I think you're best bet for private money is going to be to network at the meetups (Red Stick REI, RING) and on FB/here.

Your best bet is to read information from public blogs that approach both options objectively.

The much larger group 1 is the people who are naive and due to their lack of knowledge, experience, and possibly limited capacity, get “suckered” by the scammers.The smaller group 2 are those that understand but don’t care if they’re part of an unethical undertaking as long as they make money themselves.  

I could have found the money I bet, but I was scared to be a landlord.