There is normally more of a progression as lenders will look for an improved  balance sheet and track record.

If they were serious at Davos, which I have never doubted, well this is exactly how it's achieved.

Tenants are still willing to pay more for high-quality spaces, creating a delicate balancing act in the market.

You likely want someone with different or even opposite skills and strengths as yourself to have a more balanced approach.

I’m aiming for a balance of reliable monthly rental income and long-term appreciation.

However its really a balancing act and different for each owner depending on time and comfort level with your construction team and suppliers.

Here's a summary of their experiences:In Las Vegas, the government pays about 80% of the rent (depending on the tenant's income) and the tenant is supposed to pay the balance.

You can use it to create a budget, set goals, track your spending, and monitor your progress toward achieving your goals.Why investors should use it: Empower can be used by real estate investors to track rental incomes.

I also wouldn't be opposed to using a 203k loan to finance and renovate a multifamily to house hack and rent out (I know it's a lot more work and harder to achieve but I think the potential could definitely make it worth while, especially with the up coming changes going into effect soon). 

Your project is quite interesting, and balancing risk with reward is key.