We run into this especially at out parcels in grocery anchored centers, and our users generally can't make a ground lease work for the business case so the next best thing does tend to be the BTS or we often do Reverse BTS deals where the majority of the building design and management etc is done by the tenant. 

You will need to look at all the numbers in your underwriting spreadsheet (let me know if you need one) in both scenarios to decide.

Here you are basically hitting it without needing to manage a property in another location.

My goal would be to start within 1-2 years and get some more experience with the construction process, project management, financing/budgeting, etc.

You'll never convince a tenant that they are getting a good deal, especially as a self manager, no point in even engaging in those conversations. 

Here's her most recent thought on the matter if it helps: "Lack of inspection during building by project managers [is the problem].

You’ll face hurdles like maintaining a steady deal flow, securing funding, managing renovations efficiently, and optimizing your exit strategies.This guide highlights key strategies for investors looking to transition from single deals to a scalable, volume-based distressed property investment model.1.

I also recommend you start looking for a professional property manager, at least until you educate yourself enough to run this solo.

This also lets investors manage maturity dates, guarantor exposure, market exposure and other factors.We service loans on our balance sheet and manage construction draws for all loans we originate.I am happy to answer any additional questions or provide additional insights.

You likely don't have the net worth, proper LLC management or proper separation of personal interests to make this an effective approach. there numerous BP threads you can search to get more insights. tldr - keep under personal name and get a good umbrella plan.