Land is scarce, development is limited by resources and decade after decade the millionires are kicked out by the billionaires..truly.Anyway, that's my view, it's a long term hold view in an idyllic spot that few people will be able to attain ownership in.

Having trouble analyzing this deal as there are so many variables and I do not have the experiencing analyzing deals to make me feel comfortable taking the risk.Purchase price of the land would be $250,000 not including closing cost or fees, and construction for a new 3/2 home with an attached 1/1 ADU is estimated to cost around $300,000 - $400,000 finished.

And I put all quality materials and high end finishes throughout.

I have 1 STR property and finishing up a 2nd but I am a Grenadian citizen living abroad.

I ask because it seems like you have two clear choices - Either finish the rehab and sell potentially at a loss, or hold the property while renting it out so you can hopefully benefit from gradual appreciation and using the rent to help make any principle paydowns on any loans you may have. 

We have a great 1-1 with updated finishes that we currently live in, and a 1-1 unit that we Airbnb that has an income of $2500-3000 a month covers more than our mortgage!

ARV would probably put the sale around $450-500 depending on a few factors (can any of the basement be finished out to make more sq footage etc).

I can't tell you how many times I've seen this - both in working complex investigations in law enforcement and in dragging loans across the finish line to the closing table.

Just finished a flip in Greenville, Tx!

We finished the unfinished basement which added an addition bedroom and bathroom to the overall bed and bath count of the house.