Looking into single family houses or multifamily, as there is an actual land that you own and potentially build ADU/DADU in the foreseeable future.

I now want to look into "flipping" new construction or spec home building.

"Old" ones are with the previous theory of build 3em to last and to be repairable.     

Utah is a sure bet on equity build, not so much cash flow however. 

Building a real estate business that way is a house of cards (pun intended). 

It takes time to build up the reputation, even in a popular area like Sedona.Sedona does have a ton of STRs but it sees in the neighborhood of 5m visitors a year so I wouldn't worry too much.Getting on VRBO is a must IMHO.

I recommend googling "(City name) comprehensive plan" every city has a city plan that shows where their major commercial projects are heading. 

If you're the kind of person that needs hard math and graphing to understand things, this is completely the book you need on building wealth through duplex living.If your wife is behind you in this idea, and can see it as a move to financial independence, congratulations, you're in the small minority, as I am.

It is code here where I live to have moisture barrier as part of the build.

@Kevin D.You can build a team out of state and it's similar to building a business.