you can browse the forums and view other threads, i found these for example:Newbie New Build for STR Questionsbuild from scratch STR in my home vacation market?

Joint Filing Considerations.If you are married and file a joint tax return, either spouse can qualify as a real estate professional.

@Mostafa Koperly..I would agree at face value with @Robin Simon and your alluding to contact banks/CU's, but I can tell you credit markets for construction are tight. 

You can use the website affordablehousing.com to see the estimated rent for that type of property and location, but it is just a rough estimate. 

Hoping I can get community feedback on a deal I'm analyzing before we send EMD.

@Brandon Ja - The standard answer here is to check with your CPA, but from my standpoint expenses that add longevity and functionality to an existing property (including adding square footage) would make that a capital expenditure that can be depreciated over time.

Feel free to reach out if there's any financing questions I can help you with! 

My contact has been non-communicative and I'm wondering if he's experiencing cash flow issues and just trying to bide his time, or if there's a deeper issue and he's on the verge of bankruptcy.Any advice you can provide for this situation would be GREATLY appreciated.

For under $300k, both shipping containers and modular homes can be great options—modular might offer a bit more flexibility with design. 

And as rates, economic sentiment, politics and seasonality shift in the 3 to 6 months to get market ready it can change by 20- 50k so a little bit of Crystal ball is needed.Best of luck.