Where do you get the money to pay for the mortgage for those months it sits empty?

While these fees are higher than purchasing another rental property, it's a tradeoff to investing in a passive real estate investment and not having to put more money into capital calls if there were big ticket items needing repairs in a rental.Conner JacksonTangible Wealth Solutions

If you can build AI to compile all information about a homeowner to score and rank homeowners based on their likelihood to be motivated I would pay good money for that.

Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon.

If you would not live in the property, it is hard to get good tenants that would so your vacancy and bad debt will be higher than expected (costing you money).I'd be happy to have a phone call with you. 

@Aspen JayIt doesn't seem like the numbers make sense unless you can put more money down to lower the monthly payment which I'm assuming that is the largest part of your expenses. 

Maybe ask the neighbor to prove that they are filming their fence line and not people in the pool by sharing their video feed with you?

I was thinking hard money loan and then refinance into a construction loan after splitting the lot.

All the gurus & mentors tell you that you can do real estate with no money or credit, except, of course, for the money you have to pay them to learn plenty you could easily find for free online or just thru the School of Hard Knocks. 

I purchased a small multifamily last year and spend some money on refurbishing.