Keep in mind that if you burn all of your equity in your home and the market where your home is goes down, you own something that is now a net negative if you sell.

Found a buildable lot in a gated resort community  seller is just wanting to get rid of after 13 years (seller is older and not using amenities any longer)   Lots are cheap, couple grand   Seller only used it for owners rights to play golf, pools, tennis etcWould cost me closing costs, $50 month hoa, $50 year taxesIs there a market for something like this? 

Max price point would be around $350k but the lower the better.Any other emerging markets / cities in the US that would be good to get into?

The best strategy I see for it is as a Luxury STR, I’m just not sure the market supports this. 

Being nit picky and requiring the repairs is the new norm in todays market in my opinion.

I am currently in the market of buying something else, thinking about downsizing to a condo.

I’m looking to see if the mid term rental market is good in that area?

She'd have to invest some money to create this set-up. 3) Selling doesn't make a lot of sense, because in this market, she'd end up paying the same for a small place, condo, with less flexibility. 

I do not know your markets, but the markets I am looking at are up big since 2019.  

Make sure to conduct thorough financial analysis and consider factors such as property appreciation, rental demand, and market conditions.