Practically speaking, it’s going to be quite challenging unless you spend significant time.

Also, I'd lease out the other bedrooms for additional income as well as practice screening, leasing, and interpersonal comms.  

I can’t lie, I felt a little jittery stepping in, kind of like I was about to bet on a horse race without knowing which jockey had the best track record.

The buyer pool is beyond flakey..Your best bet is a local investor.

So your best bet is to put yourself in their shoes and shop around just like they would be.Also, some markets are definitely seasonal, and your market rent could change drastically from winter to spring/summer.

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 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.

And in the modern era, real estate and stocks returned practically the same amount (within 1%).

What's common practice?

Essentially, I am betting that rates won't go low enough where it makes sense to refinance.