There are just so many existing pipeline right-of-ways that you cannot physically find an undisturbed site big enough to be worth it near Midland proper. 

You choose the area, the product, the tenant and directed the rehab.

Quote from @Brandon Croucier: No products 5% down on 2nd homes or investment, it not 08' just yet.

Ask your tenant to use smell minimising products.

its funny how this changes with time and the market on BP  if you asked this question 5 to 7 years ago you get drowned out with the cash flow is the ONLY thing and appreciation is for gamblers my self I have always been about making appreciation games in RE.. by either value add building a new product or buying foreclosure and flipping or lending money and getting instant 12% plus returns . 

First time I physically saw the property was the day we closed.We are very happy with the Naples area and besides the STR rentals we use it a couple times a year ourselves.Good luck.

So at a glance (quick), this seems to be interior products and finishes?

We do engineer hardwood and no Lux viynl like our competitors So all these things probably cost me 25k pre house but we have been selling them for 100k higher than Lennar for same sq ft and have created the highest priced development in town. we are approaching 400 a foot for finished product which was unheard of in Canby Oregon.U can see the homes and the finishs if you go to  Ivyridgeestatescanby  dot com. 

The best way to develop a solid SOW is this - you start off with what you are visualizing in your head, send drawings, pictures and products that you like.

I would never put in a gas range, oven, dryer or any other consumer product for tenants, because a lot of them are idiots and will kill themselves or someone else.