There are a lot of factors at play that are hard to what-if over the internet based on a couple sentences of info.

We will need to verify the rents can support the mortgage payment, via a market rent 1007 (if the property is vacant) or a lease agreement (if tenant occupied).

If you know the game and are scaling up, I would go straight to a 4/5 bedroom. 2 and especially 3 bedroom homes are the doldrums in most markets.

To your knowledge, you think oceanfront studios are also profitable market for STR?

The best advice I have for you is to find a growing market.

It's a win win for everyone.I don't do property managment, we do free tenant placement for all our investor clients that purchase a house with us.Also you can put it on Facebook Market place for more exposure and then redirect them to the zillow link for more information and application process.I hope that helps.Best Regards,Lily Rodriguez - Investor friendly Broker

And in your market the lot costs are so low you need to pay cash for them and may still need more equity/cash.. in higher priced markets were the lot cost might be 40 to 50% of the total cost to build you can get a land advance but your still going to need equity/cash to do those as well.so thats your mission find a captial partner.. or put a syndication together to raise the money and partner to build out the homes.. really going to depend on what kind fo NET NET NET profit is on each home after land a build costs. 

The market for sales has slowed down considerably here. 

He's a stock market guy but the practice works just as ell for RE. 

I have a guy I can recommend, I’m in Virginia Beach / Hampton Roads market