I know Jersey has one of the highest in the country but is there a simple equation to figure this?

With the right HML obviously I could look for slightly more expensive fixers and have a larger rehab budget but I still want my first project to be super simple, not a gut job or anything that needs more than 21 days to complete.Is there anyone here who started out this way and "against the odds" successfully completed a project through to selling and making a profit?

We're just going to use nice round simple numbers.

I'm seeing here that this is more of a site for investors, which were not necessarily interested in buying or building for an airbnb, we are very interested, however, in building a home that we will live in & then rent out or make our existing home in Kenosha Wisconsin which is on Lake Michigan an airbnb.We know NOTHING about buying a lot & then building.That said,  We have been trying to figure out how we get the most Bang for our buck buying existing property or building our own home.We have been seeing some amazing properties around 50K in Yucca Valley and/or 29 palms that list having water and electric available nearby.We want simple clean lines,  I suppose what would be considered modern contemporary but I hate putting that title on it because for some reason it seems like there's an upcharge just by using that description, lol...

I know of several areas in my markets where something as simple as crossing a street or train track can change values by hundreds of dollars.

The notice to check if they want to renew was a simple "text" 38 Days before the end of lease. 

Explain to me in simple terms why I should look at a mortgage as 3% and not 40%.

The simple answer is to just do a 1031 again, but I'd like to weigh our options... 

Explain to me in simple terms why I should look at a mortgage as 3% and not 40%.

My plan is to build 2 smaller units (less than 1000 sq. ft. each), so designing ahead/purchasing plans online is feasible as the builds will be fairly simple - thanks for the tip.