Best of luck, and if I lived nearby I think I’d be bullish on, and potentially investing in the area as well! 

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

Fewer but better properties…. 

The fewer LLPAs, the better the rate. 

That could mean fewer lending regulations overall, which would be amazing.

., 8 AM–5 PM, Mon–Fri due to HOA rules).The clearer your scope, the fewer misunderstandings you’ll face.Signatures:Always have the subcontractor sign first, then you sign.

Look into meetups through BiggerPockets, local REIA (Real Estate Investors Association) groups, or even events in nearby Seattle.

Quote from @Jesse Valdez: When operating a business, it pays to know the laws.In most states, guests staying fewer than 30 days can be removed by police for failure to pay rent or obey the rules.

Too many low income apartment buildings near by / vacant buildings. 

Sales comparison A common method that compares the property to similar properties nearby and their relative prices.