One lot has a 2 bed and one bath cottage that was an existing STR. 

Warranties often have limitations, like they might not cover pre-existing issues, and there could be delays if they require you to use their contractors.I'm not sure if you've purchased a warranty already, but before purchasing a warranty, it’s a good idea to carefully read the fine print to see what’s covered and if there are any exclusions.

Having watched many prior co-workers get paid, cash their check at the casino, and promptly deposit it all into a slot machine I can tell you with pretty good certainty that casinos don't have a positive effect on disposable income and good use of the existing income in the area surrounding :)Are there solid local employers OTHER than the casino in a 15-minute drive? 

And in America slum housing is not the order of the day it does not exist. 

Consult your tax professional: while podcasts are great, make sure you have an existing relationship with a tax professional you can trust.

Work with your commercial lender and see if you can self finance, by cross collateralizing your existing portfolio.

This is literally the entire reason these companies exists - to get this stuff right.As for why, I have no idea why there has been an uptick.

Letting your contractors (specifically if you have a GC) what the budget is and that the must notify you if a change order exists (versus they tell you after the work is completed). 

We used one of our existing local lenders to provide the majority of the purchase, and the rest was provided from our investors.

Being new I would suggest started with existing builds but building small multifamily in a small town with a rental shortage could be a smart move (someone's gotta do it).