@Jordan DzubakHey Jordan, I live in Kitty Hawk and invest heavily in the OBX STR market and would be happy to get together to help in anyway that I can.

If you’re confident in these numbers, it could help mitigate the risk.Exit Strategy: Your plan to refinance after construction is solid, but keep an eye on where interest rates are heading and ensure the cash-out refinance will cover the HELOC without leaving you in a tight spot.It sounds like you're on the right track, but if you're still feeling uncertain, it might be worth consulting with a local real estate professional or financial advisor who can help you analyze the deal further.

The individual merely acts on behalf of an actual beneficialowner as the beneficial owner’s nominee, intermediary,custodian, OR agent.Note: Individuals who perform ordinary advisory or othercontractual services (such as tax professionals) likely qualify forthis exception.

It's on the larger side for the rental market in town and would probably command about $3200/mo gross rent.

If you want to network or ask specific questions about your local market, go to your local real estate forum and connect with investors from your area: https://www.biggerpockets.com/forums/86-local-real-estate-networking5.

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Would love to know as well as it would be great to collaborate among colleagues especially since we have such a small market.

Mom's 50% and Dad's 50% of fair market value.

Amazingly, it is apparently nearly impossible to get decent comps for this so I'm not sure how to approach figuring out whether to outright sell it (and for what price), fix it up as a rental, or market it as a knockdown for the land. 

This is true even if the market value for the As-Is is right on target.For example, let's say you are getting a deal for $100k that is worth $130k As-Is.