I know nothing about Columbus, but know that is not likely to be allowed in many places.You should also check if there is capacity in the water, sewer, electric, etc. systems before planning a build.It makes little sense to survey before you know what you are doing, as they don't know the size lots allowed, housing density, etc.How long surveys, permit, etc. take is very location / staffing specific. 

Account Closed are you still working in the field in some capacity? 

Thank you @J Scott and @Joshua Durrin for the quick reply.I guess this is what I consider the most risky part: Experience.I've bought two 1-4 unit houses as rental properties around NYC, totaled over 1 million in market value, with the some cash raised from all my close relatives, so I have experience with cash raising, but I don't have much capacity any more due to the holding strategy.For renovation, both of the houses are majorly renovated and I have relatives as my contractors, low cost and very good job done, so renovation is not a problem.The only thing is that I have not yet sold a house before, only buying and fixing and rental.

You believe that there is a downturn coming, and you state in this post that you do not have the financial capacity to comfortably keep both your current property and this next home without leveraging Other People's Money or using creative finance.Creative finance is great, but it only works if you are getting a great deal.

This would give rise to reserving this capacity to redeem to another interest party outside of the actual borrower.  

In spite of much being touted out there about tenant buyers being responsible for repairs, acting in ownership capacity, etc. they are tenants and their landlord must comply with state tenant/landlord laws.

Airbnb's really struggle to make money in CO ski resort towns because there are so many second residences being used as short term rentals, and there already is a high level of existing hospitality capacity.  

You're intimidated (IMO) and I've seen this before with one partner having a greater capacity than another partner and the guy without the greatest means walks away.

To be successful with presenting that I would have a packet or creditability book that helps to show your a serious investor that has the capacity and plan to manage a property like that.

Meeting realtors and selecting a good one that you mesh well with and that has the capacity to deliver the results your looking for based on what investment you want is a good start.