design one for yourself. think about your market. like in columbus we have infill lots at 30x120 and so we developed and designed a house for ourselves. we build the same house and continue to Make modifications. it's the only new build we offer to build for clients. that's just my opinion. architects we didn't even use we looked at national builder Floorplans and decided. our typical lot is 3000-4000 square feet that we build on 

If you take that cash and try to buy units in the area, ask yourself what are they selling for?

After reading your posts, it seems that what I need is a mentor.

Liberty is a prime suburb so more of an appreciation play.

What is your rate, term, LTV, and rent?  

What he is a party to is his contract with the seller, which depending on exactly what is included, can find the buyer liable to the seller for an action in relations to the existing note.  

The AirBnB is irrelevant, since if the studio is illegal/not up to code, you can't do short term rentals anyway.

What guidance / cite do you have for only deducting some expenses until it's actively rented?

Hi Sean, that is truly an interesting strategy that you are considering. 

If BP hasn't updated since 2019, the lease is not valid.