Build SFR in Ocala, FL
My family owns a plot of land in Ocala Florida in Silver Spring Shores. We get letters in the mail daily about people wanting to buy it. This made me think the area is picking up and is now desirable.
Did some research and found out that to build a modest 3/2/2 home 1600 sq ft with a builder I somewhat trust is about 135K. Rents in the area are around 1k per month - not meeting the 1% rule which I try to follow.
Is there any way to get these numbers to work? Should I look at this as a flipping opportunity and not a buy and hold?
Any local advise on this situation and the area is appreciated.