I've done this myself more than once.You will want an architect (figure a few thousand for plans).

How long you plan on beating this drum my man?

Ideal spend is $400-$650k.Is Southern California just a death trap for ROI and people get rich here with appreciation only?

My outstanding loan balance is 163K @ 3.5%I calculated that I'd clear 900/mo after expenses.I was planning to buy my new house for cash, but with the market where I'm moving/buying I'm having to go about 100K over what I was planning, so I'm taking out a 50K loan for that property.

After spending a few days on the island and speaking with locals/expats it was confirmed that the lots Remax are selling in Secret Beach are swamp land.

We have an investement property, which we plan to sell and buy propertie/s in 1031 exchange.

My plan involves paying off the first mortgage's judgment amount afterward.

Plan on 25-30% down. 

You won't get the replacement cost if you plan to walk away.  

Spending endless hours searching and vetting I had whittled it down to a few areas in the Midwest and the South.