This means that you would be responsible for the site work, installation of utilities, and other work till the structure is finished.

But the land and foundation make this close to a million dollar monster when finished. 

The cheaper the better but reasonable costs for quality finishes are also considered as well!

Start looking at and analyzing real estate (in the asset class you will be buying): the easiest will be a condo, then a SFH, then Duplex etc  (decide what you like and then know it : how much is it selling for, price per square foot for fixer, or finished home etc ) Figure out retail market: then go after anything that is 15% to 20% discounted.

Also, it goes to the psyche if you don’t finish your plan and jump from shiny object to shiny object.

@Sara Frank just finished up a rehab in the area and might have some recommendations

We did not finished the basement during construction.

I've recently finished reading Brandon Turner's "The Book on Rental Property Investing" and am about 50% through David Greene's "BRRRR." 

If approached correctly (hand picking those with the greatest potential for STR cash flow improvement + best current as-is cash flow), Sedona SFH's between $1M - $2M are yielding gross monthly income at approx. 1%-1.5% of purchase price + renovation, especially after reasonable improvements (Some are completely turn-key but have higher cost, some need $50k - $200k).And I agree with another post that in most areas, this is not attainable anymore.

The best one I completed was located in Concord (sub city of Charlotte) in October of 21 Purchase price 94,000Reno 47,442Appraised Value 205,000 (we originally estimated a 175k ARV)On this one, we carefully picked our finishes which needed up making it the nicest one on the block.