Contacting either one will have people wanting to check it out if the numbers are correct.Make sure you have it under some sort of contract before you do any of this.Also, land is a little more speculative than buying a building, so make sure you come up with several exit strategies.

Price point is high but the speculation strategy is proven and as long as you have a beautiful ocean view, easy beach access, great decor, and good reviews... 

That would make your cash flow something like $144 a month.A deal like that might be OK as a speculative play, hoping for future rent increases or appreciation. 

Good luck with your speculative project. 

That said, I don't ever like to play the speculator. 

Are you speculating on flood damaged homes?

Buying for appreciation is not "investing", it's speculation (read: gambling).

(By appreciation I want at least national average, Im not talking about making a killing off of it by speculation buying.

That is speculation.

When you lose money while you are waiting for external events, out of your control, to get your money back, you are not an investor....you are a speculator.