I have often seen many people love the idea of building, but once they figure out the cost, those ideas change.For reference, here in Chicago, you can expect new builds to be between $200-$275/SF depending on MANY factors...that's just a very rough ballpark!

What kind of monthly costs should I be expecting, and what kind of value/tools should I expect to receive for those costs?

There are many HMLs that will finance new construction, but much of it is based on your experience, credit score, and the expected sale price.

The upstairs rental expectation is $2500, downstairs $1600 = ~$4100.

@Stan MendozaRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Different people expect a different combination of risk/reward.  

Key risks in the BRRR 2.0 strategy include construction delays, cost overruns, market fluctuations, and difficulty refinancing if the property doesn't appraise as expected.

I wouldn’t post your rent for higher and expect someone to try to haggle.

On one hand I like that it will probably cash flow (we expected to break even at best) and know there's issues with canceling reservations.

I also diversify into alternative real estate, like self-storage, to stay ahead of emerging trends.I’ve learned valuable lessons over the years, particularly the importance of clear communication and aligning expectations in partnerships.