As I am running these numbers I feel like its a complete guessing game for the Cap Ex, Repair Cost, and Vacancy rate percentages. 

If you find the profit spread is lean, you might want to hold off on building, particularly if you feel the land is located in an appreciating market.

The only people I have ever seen on this board get good things out of gurus/masterminds/etc. are people who already have a fair amount of capital and understanding of finance, and feel its an affordable expense that will help them transition to this new arena.

Feel free to connect if interested in the PA market.

I'm feeling apprehensive about making a mistake and not sure where to start and really want to get specific on my strategy. 

But I feel very lucky to have been able to purchase three small investments so far.

Sitting here now in 2024, ready to take that first leap into real estate, I'm both excited and anxious moving forward.My plan as of right now is to brrrr a property in Indiana using my own cash.

I've looked through recent sales (trailing 12 months) to determine similar cottages with similar lakefront amenities, and although none are as small (most are 1000-1500 sq ft), I determined what I feel is fair market value based on cost/sq ft.

I’m feeling like Fajitas at Cadillac Bar and Grill.  

If you are looking for true private money (no broker fee or points) most will not lend at a high leverage. 60-65 LTV max Now if you have experience, plenty of reserves, and the deal can be 100% financed based on the ARV, then you can present it to a hard money lender and they may feel comfortable doing it.