Some investors also use a business line of credit backed by their cash flow, which can help with future deals.If you’re planning to scale, maybe start stacking that cash for the next property or even park some in T-bills for short-term returns.

looking longterm who knows what's going to happen in the market.The largest thing to be cautious about is that with commercial tenants you as the owner often have to put up money in the form of a check or abated or free rent to help the tenant get open for business and build out the space. 

We need to close on the second piece of land for the parking which is maybe $60k by June so I figured to set it up and raise the first 500k-1 million for the development. the SPV could also just be a development SPV with a refinance as an exit. but I think planning on long term ownership is best with passive income. the structure you talk about with hotels is post entitlement it's hard to negotiate up front. so this is a unique opportunity where we own the land and it's meant to be a good start. 

@Khaled SeirafiA 1031 exchange from a multi-use property in the Bay Area to a multifamily in Orange County with a medium-term rental (MTR) strategy can definitely work, but location, regulations, and demand are key.

Does it make a difference for privacy (in terms of public records, so disregarding lawsuits)?

AirDNA shows it on the rise in terms of annual revenue, occupancy rate, average daily rate and revpar, with about 3,000 total listings.

I'm m focused on staying disciplined and maximizing cash flow, so your suggestion on BRRRR and DSCR loans is especially valuable as I plan my long-term strategy.

@Scott Trench - have you considered investing in short term rentals, materially participating, and having the average stay be less than 7 days?

Another aspect would be financing terms.

In some cases, federal tax credits like those for low-income housing or economic development might also apply if the project aligns with certain goals.Instead of buying the land outright, developers often lease it from the tribe, which can reduce upfront costs and sometimes come with favorable lease terms.