However, Is it replacement cost or actual cash value?

It will make up for the renters that are not up to market value.

@Carlos Ptriawan I understand your point of view but DSCR does not indicate value.

How did you add value to the deal?

That said, we don't need to be next to family but being somewhat close by has advantages so those places are favored somewhat.The strategy is to buy, househack a value-add multifamily for 2 years then rinse and repeat until we can build up enough capital to either start developing, move to larger multifamily or the wife wants to start a senior care facility. 

I would assume that if you are building the same cabin again that the new build would take a bit less time depending on lead times for materials as the crews have already done it once.What will the value be of the property once the cabin is ready to occupy?

I'm curious how much value increases on raw land if I place a manufacture home on it in the midwest region. 

It will buy you a larger property value, it's the property value that appreciates. 

They condemned our neighbor, and forced the sale at market value.  

Some simply care about the value, condition, and DSCR others will look at DSCR + Personal and Business Income and will use a global cashflow ratio.