I've heard a lot about Kansas City, so I'd love to learn more. 

In the event you do have to pay for the repair (although I would heavily contest this with the contractor) I think its fair to charge the tenants with an explanation that you did incur damages for the repair although you previously believed that you would not 

Rates are set to go down, although not as fast as hoped. 

Thought I'd ask if anyone has any recommendations for good policies.  

I'd recommend you start there.If the quote you have found is correct, then Bonus Depreciation might not be the most financially-friendly choice.

I'm assuming another update will be coming shortly, although I don't expect much progress.

If not, it's important (although not absolutely necessary) to have experience to gain their trust. 

I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?

I’m also open to exploring short-term rentals, private lending, or passive investing in funds—anything that maximizes returns while keeping risk and time commitments manageable.For context, I’d consider leaving my job if this could become a full-time venture that surpasses my current compensation (low-mid six figures).

We also buy the rentals we lock up and offload some too so I'd suggest doing your marketing in the market where you want to build your portfolio.