No experience and no skin in the game will also be an issue with the lender.

No substantive changes.

With everything so expensive within the east coast how can work cash flow positively?

For what its worth, the "Book your stay link" didn't work for me.

By far the BIGGEST THING I wish could have learned earlier and I am still working on is avoiding other peoples mistakes, by taking their advice.  

You can probably get a construction loan to build on it, but just to buy without an immediate building plan on just to speculate that land prices will go up, unlikely, as there's no income stream. 

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To me, this is one of those short-term deals where the actual rehab costs need to closely align with the borrower's estimates, while the execution of the project from beginning to end would require little to no problems or delays for everyone to earn a decent check.

Having a few "dead" weeks where no one wants to see houses, so you decide to go down the shore for the weekend.

Once paid off, your cash flow would increase significantly since you’ll no longer have a mortgage.