This flip makes a cool story to tell with the history and you falling lol.

You can lead a horse to water but you can't make the horse learn math.

Super cool!!

Quote from @Jaycee Greene: Unless you already have a capital reserve fund that will pay for unforeseen, major expenses, like a new water heater, roof, or A/C unit for example, I'd keep the profits in the account until it can cover 6-12 months of operating expenses.

It's cool to know how to use tools to a do analysis but it has to be utilized properly.I have seen several flippers who have read Rich Dad Poor Dad; had every Performa, chart, analysis package, market analysis reports, cost benefit analysis, work break down structures, IMS and much more and botched every project. 

Pretty often no water, sewer, power or even roads to the property. 

It would be $1.1m, and according to AirDNA it would run -$40k/yr as an STR, and while local rent rates are high it would still run about -$2500k/m.It is such a cool and unique property I hate to let it go and would love to find a creative use for it that could at least carry itself (approx $6k/m+).

But it should only be attorney cost, the deed and recording fees (few hundred) , maybe a final water cert.

By improvements I mean that there is power, water and sewer/septic installed and working.

They would need to prove their system works before I take such a high risk.I have 23k in capitol to invest, originally saved for a home, and would be willing to put up 10k for their system to test the waters.