We plan to build in 1-2 years but this first year is going to be planning, permitting, excavation and septic.

What are your plans moving forward?

Come to the table with a plan, and finances worked out to get the best service and agent.

I was planning on living in it while doing the repairs.

At this stage of my life (71) years old and more concerned with estate planning than career advancement, my top priority is asset preservation on an INFLATION ADJUSTED basis.

Taking the primary residence from a 3 to a 4 bedroom, adding HVAC, new open floor plan, modern kitchen and bathrooms as as well as adding massive walk in closets in two of the four bedrooms.

They may want less than what you are planning to offer:)

@Eilon ShohamSTR and MTR can be profitable with the right business plan. 

@Mounish Thatikonda are you planning to do large rehab projects? 

If you don't want to occupy, there are other options that look at the income potential of the property and do NOT factor in your income, employment history or DTI but you'll have a significantly higher minimum down payment - plan on 20% to be safe.