If you don't have construction experience, I wouldn't start flipping.

I filled out their survey and provided some constructive feedback, even though I don't own a STR here.

You have to get someone who is familiar with them and would want one.Here is a pic of this style of construction.

Use the land as down payment on a construction loan.

Quote from @Simon Walker: Hi Guys, new here to the bigger pockets forum, I have been in construction for 11 years and real estate the past 3 years.

At the current cost to build estimate $150/sqft, It appears a 1500-1700 sqft new construction will need to sale for around 399,9k to make a decent profit.

I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

The challenge is knowing how to scope out the renovations properly and understand your construction costs. 

Housing has always been super affordable there, and new construction has increased in recent years.

Cost of construction is expensive and about to get worse.