Since you mentioned the property needs a lot of work, if you could put in some higher end finishes into the cabin (kitchens and bathrooms), there would almost certainly be a pretty solid base of STR guests wanting to stay there - almost without exception, every modern STR cabin in Minnesota and Wisconsin that I've seen are all doing tremendous numbers.  

Added Luxury Vinyl to Kitchen and Bathroom.

Updates include new upstairs flooring, kitchen counters/sink, bathroom vanities/toilets, and fresh paint.

Porch floor, painted foundation exterior, bathroom ceiling.

If they are solid, they pick up after themselves in common areas, keep the dishwasher running, and treat it like a home, making it *much* easier for me to keep it clean and ready for STR guests. 1-2 a month as needed I sweep/mop/catch up however needed, clean bathroom, etc.

The house I am looking to buy has a detached garage about ~1300 square feet and already has a bathroom in the property. 

The issue was electrical and a licensed electrician made the repair on a GFCI in a bathroom. 

We completed this project with (2) holes in the back yard and 2 holes inside the home (bathroom and laundry).

in May I closed a permit that removed load bearing wall, added a bathroom, and removed a fireplace.  

But if you are committed to purchase, a 2/2 would prevail over a 2/1, the price difference has to be nominal and now you might attract a different user like tow couples or adult friends that don't want to share a bathroom vs a young family that the kids are okay to use the same bathroom as the parents.