Tiny Home on the lake for Air bnb (or other STVR's)

[Bryant Amundson]

Hey almost friends!...

My wife and I are looking to pull the trigger on our first home. Yes I said home. It will be our first home we live in, hopefully after 2ish years we can move out and rent it out. 

At first the plan was to buy and fix up a home needing minor repairs and hopefully force some appreciation and cash-out refi after 2ish years. 

But now my better half proposed the idea of buying a small piece of land on lake Minnetonka in Mound, MN and put a tiny home their.

The piece of land specifically is a .23 acre lot for $99,500. The tiny house we like is $55,000. 
Totaling $154,500. 

My question is how much more should we budget for land renovation? As far as getting it prepared to make a tiny home "livable." (hooking up to gas, and water, etc...)

The plan would be to turn it into an STVR on lake front property. In my mind it sounds doable and within our budget, but I have not yet done a deal yet and wanted to reach out to the experienced folks of REI to be better prepared for what's about to jump at me...

Is this a good plan? If you have experience with tiny homes or STVR's please let me know what you think of this as an investment strategy.

Thank you all,

-Bryant

[Leigh Ann Smith]

@Bryant Amundson, does the land have any utilities running to it?  We spent about 25K putting in a septic tank and running electricity, water, a pad for the THOW and a road to our tiny house location.  Gravel roads are expensive, so don't forget to add that.  This is going to vary a lot for different locations.  Would you have to drill a well?  That would increase the cost quite a bit.