If you're purchasing a lot for $200k you're typically going to need to budget another $100k+ to get the lot to the point where you could even start talking about building a home.

Good proximity to NYC, a lot to do, and still affordable, and very few STR regulations in the area.You are basically flying blind right now if you are ready to take listings from the first post.

That's a lot to ask of a complete stranger!

There is a lot to be said for just being in the background. 

You do, however, have to pay a lot to prepare tax returns once you have a corporate structure, which can lower returns a lot. 

There is a lot to this work, way more than can be covered in a few posts.

Property was mismanaged for 12 years and is in need of major repairs, 30,000 sf of parking lot to asphalt overlay, 8 damaged sewer lines, on and on.

@Kris HaskinsA lot to unravel but if they recorded your deed for purchasing the property prior to the ratification of the sale then that creates issues which the lender should have gone with your closing.The agents and title companies in this are a mess as how did it not show up on title or with the listing agent what was going on.

A lot to swallow, but if the will states the property is to be sold, then if one of the heirs protests the situation they can easily force the sale.

Start looking for a contractor or handy person to get begin asap to limit downtime.There is a lot to unpack when setting up your first STR.