So, they could potentially buy another house later on.

It's a small place so I'd guess it won't rent for enough to cover your expenses anyway so I'd probably sell, especially if the loss is small, it unless it's in a great neighborhood that you think will do well over time. 

So, you just lease. 

It's crazy because there are so many platforms. 

call a few brokers and just see what their terms are.

I'm always worried I'm going to get a call the plywood or bush sticks busted, and the cement blew out. 

Call around and talk to a few people I'm pretty sure you will find someone who will make the time for you who can tell you pretty much on the phone if you could qualify and ballpark for how much. 

I'm currently flipping properties in my backyard (SoCal) and have the liquidity to fund multiple projects.

Would be great to reconfigure the lot lines on the two additional parcels so they'd both meet the minimum to build.

Though at 1525/mth it is projected to cashflow a little less than 100/mth  -- the numbers do not include what I like to call reality numbers (vacancy loss, maintenance, capex reserves).