Each side is 7br/5ba, a shared jacuzzi and pool, a shared game room with pool table and foosball, a 1 minute walk across her street and to the beach.+$80k each side this year but after sinking $14k into  furniture and the wall decor to give it a strong “beach house” feel.  

(ie putting greens, pool tables, arcade games, etc.) 

Be good to your tenants/customers.I’ll end with my Why(s):- Add a leg to my family’s financial table that isn’t directly proportional to my time spent away from home and/or unable to spend time with the people I love and do the things I love.

I paid for a consultation with a colleague who was the IRS technical advisor on code 469 for 25 years to offer some feedback and clarity because it is so unique. 

A great way to answer situations like this is to reverse engineer the question - If you had 250K-300K sitting in the middle of your kitchen table, would you go out and buy this specific property and land, in the condition that it is, and want to monetize it or develop it? 

Since we experienced investors remember the amortization table on top of our heads, we're not afraid of IO products or ARM products.

Seems like a good pitch for a contractor to pitch but not for a flipper to pitch a motivated seller.. leaving alot of money on the table. 

If you are considering them in this market environment, they must have some uniqueness that is worth considering.The asset and market are important but the operator and how they manage the project are critical.

What do you bring to the table that would make someone want to partner with you? 

And having a loan on the lot will require you to bring more funds to the table for the build.