I utilize these products but more for commercial multifamily where they build in an interest only period, 30 year amortization schedule, and the bank funds as much as 100% of the construction costs.

The cost of housing has exploded. 

To me the quadplex would be dual purpose, while you are not living there it serves as a reliable stream of income, once you move there, you could live in 1 of the units while you build your permanent home, and you could also use it for when your family comes over for large gatherings.A 2nd option might be to build an RV park, Unless their are zoning restrictions, you should be able to build one fairly inexpensive, with a septic system and either public water or a well, you can keep your costs to a minimum by doing gravel roads, which are easier to remove later if you don't want them. 

You are missing a lot of steps and costs and forecasting of obstacles.I've been through the BRRRR 100+ times with clients. 

@Kody SmithJust went through this with a 2.8M property that thought needed $200k in repairs and it went for $1.8M at auctionPeople are going to lowball this at auction and that close will wait and probably pick it up for around $1.4M

Time to Level Up!

Looking at run down areas that may have potential to come up in the future. 

It’s still up-and-coming, so there are some rough spots, but it could be a solid long-term play.

You would then periodically pull the ap up and "swipe left of swipe right" for business or personal trips.

I can continually save up enough for another down payment through my W-2 income, but the time elapsed kind of drives me nuts.