Are you focusing more on private lending or traditional financing these days?

Traditionally, these would be a door and a window.Minimum ceiling height: At least half of the bedroom ceiling has to be at least 7 feet tall.Minimum window size: The window opening must be a minimum size, usually 5.7 square feet.A heating and cooling element: A heater (space heaters won't qualify) as well as a way to cool it down, whether that's by opening a window or AC.

You'll also likely have longer than tradition residential vacancies.  

HELOCs on investment properties can be tricky since many traditional banks don’t offer them, but some lenders, and some local credit unions might be worth checking out.

If you find a seller willing to carry a note, you might be able to negotiate an arrangement that works without needing traditional bank financing.Another approach would be to partner with someone who has capital but lacks construction expertise.

I am aware of companies like Pad Split, but would prefer to have a more traditional company overseeing the day to day since I am out of state the majority of the year.

They will likely want you to do all the traditional lead gen steps: cold call, open houses, door knock, etc.

This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

If you are open to value add strategy, small multis have potential for not only traditional forced appreciation but also the ability to see major rent increases.  

When I had my traditional HML company and 100% of our funds were investors