Also anyone know if you can list it on AirBNB as an experience not for overnight stays?

When you specifically mentioned STR experience and the possibility of something with some added "personal value" bells started going off. 

Quote from @Shayan Sameer: Hello,real estate investors,I have a question for those with experience pulling home equity to fund new investments.

Would love to hear from the community on their thoughts or experiences.  

It is also worth noting that property management is often closer to 30% of gross rent for a short-term rental due to the much more intensive hands-on management compared to a typical 10% for long-term and as such, I agree with recommendations above that medium term rentals may provide the best of both worlds if you are able to tailor proximity to a local need, e.g. hospitals and travel nurses.Again, happy to relay my personal experiences in the area if you're interested.Best of luck,Patrick

I understand you have a lot more experience than me (and experience is often the best teacher) but I still think I have done some things right with this property and I think it works out long term.

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.

@Jackie LinThat’s a big decision, and with your experience in California rentals, you’re in a great position to weigh the options.

Just because someone has experience doesn't mean that a local meetup would not be helpful.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.