I suggest studying everything first considering the risk and your resources.

I didn’t have much of an opinion and actually skipped replying until I came up with a question.Will be able to tell how this actually affects prices by studying new build homes?    

There are studies out there that analyze the best vacation rental markets and the answer somewhat varies based on what is being measured.

I'm a 2x House Hacker in Los Angeles (case study in the BP book The House Hacking Strategy) and I'm going to be direct so that you can incorporate it into your analysis. 

We've completed a HELOC loan, invested through a SDIRA, completed two 1031 exchanges, and we just now are doing our first cost segregation study on our portfolio to reduce our 2020 taxes to zero even though we made over six figures! 

Due Diligence- Probably need to do a Phase 1/2/3 epa study or you will be taking on the cleanup risk.5. 

Study the market.

Study and understand the SEC rules for accredited investors and 506 (b) or (c) rules from their website.  

The three most common approaches include:Cost approach: An estimate of the replacement cost less depreciationIncome approach: Calculation of estimated potential rental incomeSales approach: Uses comps of recent transactions on similar propertiesBe sure you are leveraging the tax incentives availableIdentify any applicable tax incentives available for commercial properties - historic tax credits in certain areas, opportunity zones, environmental sustainability, etc.Understand available tax deductions, credits, and rebates - Tax deductions decrease the taxable value of a property, tax credits directly reduce your tax liability dollar for dollar and tax rebates are a refund of taxes paid under certain conditions.Utilize a cost segregation study - Cost segregation allows you to reclassify assets into categories with shorter useful lives, therefore accelerating depreciation and creating tax savings.Leverage energy incentives and deductions - Look into the Section 179D deduction and how you can save on tax by meeting certain standards to make your property more environmentally friendly.Best practices for commercial real estate owners and monitoring their property tax regulations:Plan proactivelyWork with a professional to receive guidance on complex regulationsUtilize specialized software tools to drive efficiency and compliance.What questions do you have regarding property tax valuations?

They use their case studies to sell you, but all houses/locations aren't going to produce those same results.