That perspective will help me focus on developing and reviewing statements tailored to the scale of my property.

So while it's not as ideal as a multifamily property, it does present a solution for those that are in the personal situation where they can. 

At a minimum, having viable plans in place for development will make these lots more marketable and valuable to potential builders when we have conversations. 

Turns out the developer didn't fix some underground pipe and it took years and lots of $$ for lawyer's fees to get things fixed. 

I deal with manufactured, modular and site built. 

It's... not an ideal situation and we're kind of working our way through the grieving process.

It takes time to develop trust and credibility with potential investors, so don't wait until the last minute.

.: @Gash Nookala - if your property is not in the Hampton Cove area of Owens Cross Roads, you honestly are not in an ideal location for a rental. 

From experience, switching to a conventional loan can help you remove PMI once you reach 20% equity, while DSCR loans are ideal if you’re focused on rental income.

For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand.