That being said, what is your long game and how would you handle gas being phase out and how would your business pivot? 

Colorado wasn't a bad state until they decided to change the entire process right in the middle of the game.

It notifies the IRS of expected taxes on this income.Sending Forms 1099-INT as an Investor: Investors should send Form 1099-INT to private lenders if they meet two criteria:They operate as a “trade or business,” applicable to flippers and landlords.The annual interest paid on the private loan was $600 or more for the prior year.Private Lender Reporting: Private lenders must report the interest collected on private loans as taxable income, even without receiving a 1099-INT.

With the help of two local kids I loaded his personal goods into a rented truck, said goodbye, and thus began phase two of my entry into real estate.Marketing for a buyer was predominantly done in the print media.

Check out the listing input forms for a residential property for two different MLSs: Los Angeles and San Diego (in case you want to see how different the forms can be).

Without knowing more than what you've shared, my two concerns are the classification of area and $170,000 of price appreciation in 15 years. 

It has two loans one from 2007 for 744k the other is 150k that was borrowed in November 2022 that has a balloon that burst in 2024 .

If occupancy rates stay as they are now for the next year or two, I will still cash flow around 50k-80k with this new cabin build.  

That's an important consideration.Additionally, adding an ADU to a property forces appreciation, especially if you have a one- or two-decade timeline.

Auction starts in less than two weeks.