I'm planning on putting 25% down because that is a requirement of the loan.

Key conservatorship issues to considerAny plan to exit Fannie and Freddie’s conservatorship should promote market liquidity, and thus, access to mortgage credit.

I have a 3BR, 2BA, 1380 sq. ft. home in the Villas neighborhood of Ft Myers that I plan on short term renting via AirBnB. 

I essentially am thinking of a 5 year plan to build them exit.

I found a listing in Northern California on Zillow that is vacant land with approved plans for building a home.

I think I have a healthy risk tolerance, I just like to have a game plan when I take action.

Paint, Plumbing, Roof, Flooring, appliances.B- neighborhood.55,750 down payment + 20k in repairs.  75750 all in.Median rent for the neighborhood is 2k.532 cash flow.I already asked them to drop the price by 15k for us to remain in the deal. 

I'm planning on hanging on to my primary and renting it out (medium or long term due to local rental laws).

Or is your plan to take their equity as your profit?

I myself am in a similar position looking to acquire a secondary home in the Banner Elk and would plan on using as a STR and would love any input on your findings!!