Don,Just curious why you think a company based in Las Vegas would be a warning sign ??? 

The price paid is well below what we should have paid based on number of lots/homes/ that can be built.

The posters opinion is based on their experience, my opinion is based on mine.  

You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

I'm also based in California.

If you’ve yet to build up substantial credit in the U.S. you can apply for foreign national specific loans that don’t take credit history into consideration when qualifying as in some circumstances you can get better rates and terms applying as a FN when your U.S. based credit history is in it’s infancy.

The already-constructed home is one point on the base of the triangle, and the other plots comprise the rest.

Based on what you said you meet this criteria.

You can get a refi based on the as is value after 3 months of ownership.

I'm constantly juggling the rates for my Airbnb listings based on what my competitors are charging.