Make sure utilities are available, and that you have tap fees included in your estimate, as well as engineering (site plan), architectural plan, and other bits you might need to consider for your market (landscaping and costs of sale, for example).

Quote from @Gregory Chadwell: I wonder if having a lead filter installed on the property might help the situation too? 

Actually, I did attribute the coaching fees over 6 month period and thought it's fair for someone like me with no experience in STR at all to start off and have the resources, design, coach, mentor all under one roof to give it a good shot. 

Perhaps slightly higher from an alternative lender but definitely not from a credit union and expect much higher fees.

The "fine print" here is fairly sizeable upfront fees and high interest rates, relative to a traditional construction loan from a bank.  

And preparing a building site and installing a driveway are further considerations if I even decide to build something there.

I'm looking at it on my rental software and there is also a fee for it which is the main deterrent for me currently.

No excessive fees upfront or during holding period4.

One way to get tax benefits while you're living there could be installing solar panels or upgrading the energy efficiency of the home. 

For example, we might arrange a shorter penalty period or reduced fees if you expect to exit the property within a specific timeframe.Ultimately, the key is aligning your financing terms with your exit strategy.