I also felt it was the perfect size as a starter MF property for me and my available funds.

Properly screening them.

In order to divide that single lot into 3 lots, the minimum starting lot size would have to be 0.6 acres, or 26,136 sq ft.

I'm experienced in screening tenants, having co-signers, etc.

Don't go off a price per square foot as a lot of these jobs has to do with complexity and materials more than it does with the size. 

We are financial sponsors of the project and visit it every time we are in the area.Flying around it in a helicopter by itself would give good perspective of the size but when I flew around it there was a large crane and dump truck on the arm. 

I do screen heavily, but fear that with less expensive properties it will be difficult to find "quality" applicants that can pass screening unless I greatly lower standards.  

I would suggest you screen this person as a new tenant and see if he qualifies.

I assume you could easily get $200-$300/night for a house that size and more if you have a well themed and tons of amenities.

I supply my tenant's with a business card sized laminated card with the account number on it.