MUCH profit to you.

If you can live there another 10 months then you won't get taxed on the profit when you sell.

Any perceived profit will get eaten up by transfer fees.As far as your rehab budget, 5-10K will get you 1 thing. 

For $15 grand, I would pursue justice by legal means.

Much profit to all of you!

The owner is a friend of the family and just doesn't want it anymore and doesn't care to make a profit. they are very well off anyway. 

Remember, you have to pay for land, const. costs, soft costs, interest carry on your loan, permit and development impact fees, your profit, and fit that all into 120k per door on the unit sale (BTW, 120k per unit walking distance from Chesapeake Bay sounds cheap, but I'm not familiar with the market).

Basically if you could do 2 deals rather than one what would your profit be?

I get paid as the days go by example if somebody books it for a week and they start Monday I get paid that Monday and for the whole week for that customer.I typically charge on one of my cabin $100 a night so it's very profitable better than long-term renting.

Thank youJonCurtis  I would think, based upon the info you gave, but a fixer upper which you could rent out or sell at a profit