I think that for me, personally, I have the goal of attaining early financial freedom aggressively, but also like to maintain a conservative financial position with lots of liquidity and a hefty positive margin between my income and expenses.If I had a huge lump sum of money that I came into all at once (and was otherwise unlikely to be capable of rebuilding said sum in less than 5 years), I'd be looking to invest it consistently, according to a system that I could sustain.

So an investor purchased it in 2006, and did a complete gut and rebuild. 

In my case if I use the 5k in reserve then I'd start to rebuild that account with a percentage of the rental income.

My STR rebuild cost is $350k, with 500k liablity.

Discuss with the agents the amount of coverage (Building Replacement/Rebuilding costs vs Depreciated Value). 

We're in our 44th month of appreciation right now, (b) are buying off-MLS properties from motivated sellers, (c) are buying things they can rehab or rebuild to generate value.3.

I beg you.All new plumbing risers and lateralsAll new windows, doorsAll new furnaces, ductwork, everything related to heatingAll new electricalNew RoofI would strip everything to the studs, keep existing sub flooring if you can (you can lay 3/4" plywood and shim to level if they're off), and rebuild from there.

Proper brick storage units with secure locks could provide shelter for crops, vehicles, furniture, machinery and anything else that needs to be kept while rebuilding happens.

Even cash Buyers have some common sense and have to recognize that, unless they are tearing it down to do a rebuild, that somewhere along the way their capital is at risk and would not get involved in it.If I were you, I'd just say I can't help you with this one and move on.To answer your question though, if it is zoned as a SFR, if it has a CO as a SFR, appraises as a SFR, has a utility set-up as a SFR, then one should value based on the Sales Comparable Approach and not an Income Approach. 

The only thing that could work is to buy something in the local market for the land, tear it down and rebuild for the foreign market but then you're a developer.