I have worked my entire career in construction and last 2 years performing entitlements, permitting, and construction for industrial developments along the Wasatch.

I know what exactly it takes to obtain a post-construction permit to bring any un permitted structure into compliance.

You are much better of preparing for the worst case scenario and adjusting your strategy accordingly.  

One way to do this is with brand new construction.

@Chirag Mehta For construction costs, you should be around +/- $100 PSF which would include all sitework, utilities, and going vertical with modern finishes.  

As a realtor specializing in pre-construction, commercial, and investment properties, I’d be happy to answer any questions or help guide you through the process if you’re interested.

Hey @Renee CossGreat that you caught the STR restriction before starting construction! 

New construction is also a solid option because everything’s brand new, and you’re less likely to run into issues with maintenance early on.As for research, I’d focus on the local economy and rental demand.

Are you only interested in new construction/build-to-rent properties?

If they’re on a month to month lease, and you’ve offered them a year long lease that they have opted out of, you can adjust the terms of their lease once their month ends.