Since it won't be cash flow in this condition and may run into loss it may offset my rental income but hoping to build equity and have another investment in my portfolio.What would you folks suggest?

We wanted to build a cabin for us but learned there is nothing and off grid so it has been sitting there for last three years and paying the property tax. 

I’m here to learn while I build cash reserves and attempt to make my credit as attractive as possible.

I don't mean residential DSCR or other non-qm type loans but rather loans for office buildings, stipmalls, owner occupied SBA loans, etc...

Hi Josh, Additionally, consider building conservative assumptions into your financial projections to account for potential market fluctuations, economic uncertainties, and unforeseen challenges.

Build a team of people to help; an agent who isn't trying to talk you into every opportunity and knows how to analyze a deal; a lender who offers you all the possibilities; an inspection company that can get things done quickly; finally a property management company that comes with good referrals.

As a note... there are properties on the island that are "luxury" but per building department officials my house is the largest residential house on the big island with the biggest residential pool.  

Mix Use buildings are more difficult to finance.

Then I could keep his/her deposit money and any capital improvements put into the building.

If not, it should have been part of your due diligence to request a loss run report.In any case, if the building is good and your property inspection report is good, and the price is right, just close the deal.