@Nichole Kinard there really aren't any mandatory requirements for campsites, although it seems like having some basics helps to drive traffic.  

Combining these strategies often gives investors the best balance of cost, simplicity, and security.

The existing homes are too small and would require a large expansion, at which point it would just be better to build new. 

A triplex or quadplex could provide more units for rental income, but obviously will require more financing, so having your financials and pre-approval lined up early is key.Since you’re already looking to network, attending local real estate meetups is a great idea—you can also connect with seasoned investors or agents specializing in Long Island properties who can offer advice specific to the area. 

Once you read the explanation below, you will understand how REALLY bad things can be if you don't get the letters but go through with the purchase.First, the owner/seller should have a clause in the lease requiring tenants to sign (or object to in writing) tenant estoppel letters if presented to them.

@Stephen Hood your idea is solid and shows good potential, but here are a few things to consider:Private Lender Terms: Ensure the lender agrees to the 1% origination fee and $2K monthly payments—some may require a higher interest rate or balloon payment at the end.Timeline for Sale: Factor in potential delays with selling your current property or completing renovations on the new one, as these could impact your refinance timeline.Refinance Feasibility: Confirm with lenders that refinancing at $500K is realistic, especially after recent rate increases and appraisal expectations.Exit Plan: Have a backup plan in case the market shifts or repairs take longer than expected, such as extending the private loan or bridging with a HELOC.If you can lock in favorable private loan terms and stay realistic about costs and timelines, this could work well.

There is a mortgage balance but the property is not distressed

If you want me to give you a quote, I'd need to know the address, 1st lien details (type of loan, balance, interest rate), credit score, income/DTI details, and target LTV (can go up to 80% CLTV on the 4plex). 

I cannot use Airbnb since it turns out the conversion is unpermitted and my city requires STR registration.

If consistent cash flow and diversification appeal to you, this might offer the best blend of growth and flexibility.Ultimately, it’s about balance: if you want to prioritize appreciation with minimal hassle, the first two options shine.