It actually doesn't matter if you are purchasing for cash or financing - it matters how much the purchase + reno will cost compared to the after repair value.

Now they're paying the price, plus double closing costs and taking on additional risk. 

Renovations are high cost items 

Do I need a *business* checking account to accept rent payments and pay for maintenance/repair costs as they arise?

Also, we plan to make the farmhouse and growing building/s nearly net zero, which will lower cost of utilities to zero.

I received an estimate to make room for a hot tub that does NOT include the cost of a hot tub.

They might cut corners on essential structural or system repairs, leading to hidden issues that can be costly to fix later.2.

It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.My numbers:Approx Value of Home $240-280kCurrent monthly cost / $860 mo (mortg,ins,tax)Utilities / $250. mo (elec,gas,water,trash,internet)Cost to run as AirbnbApprox monthly cost with STR insurance ($250/mo?)

But in analyzing the numbers, my market it looks like I can pick up land for 35-45k, moving cost 15k, purchase of an older home and rehab 50k.

Maybe someone else can chime in on what those costs could be now.