Being that upfront cost would be way too much for me to try and take on my own and also since I don’t have experience it’d be difficult to get a loan of that magnitude to subdivide and install utilities drainage storm water etc.

Initial plan was to develop & subdivide upfront costs and difficulty to acquire loan for construction and utilities would make me change plans.

My goal is to get into RED from a sustainable standpoint and I understand that experience or getting started beats education any day, but just wanted to get further feedback on the same.

I would utilize the house hack with an FHA loan as as possible.

Sales price of 185k-12,950(closing costs) - 5500 (holding costs interest payments + utilities for at least 90 days) - 25,000 (rehab) - 118,000 purchase = 23,500 profit.  

@Julio Ibarra do you have the opportunity to utilize a cosigner?

I have read David Greene's BRRRR method book and am contemplating whether to save up for BRRRR or utilize the FHA Loan.Any preference on FHA vs BRRRR method for first property?

This means that you would be responsible for the site work, installation of utilities, and other work till the structure is finished.

Running the numbers I feel confident as a flip I can make money utilizing some creative seller financing that we have discussed but I am looking for some real world feedback.My HML is fairly expensive, between interests, closing costs, and additional fees it will eat up to much of the profit to make the flip worthwhile. 

Plan to refinance within 2 years and utilize the appreciation to help securing capital from our other two STR in the area.