@Jesse GaynorEven if you pay $2,500 a month now in Rent that will go up over time due to the landlord having to raise rents.

The fix-up/lease-up process raises the NOI and ultimately forces a higher property value, leading to a cash-out refi within the 5-year term. 

Still, after a few months, I figured it wasn't the best fit for my interest as I'm interested in raising capital or using other people's money to buy multifamily.

@Tosin Oluwatoye a good way to test out your location is to put the concrete pads down, add a 30/50 amp outlet and water line, and then rent out the pads to people who already own their own tiny houses.

Overlooking Minor Repairs: Small issues like broken window locks, missing handrails, or leaky faucets can lead to inspection failures.Incomplete Documentation: Always have the necessary permits and contractor receipts for renovations and repairs.Neglecting Lead-Based Paint Testing: If your property was built before 1978, it may contain lead paint.

Obviously we haven't held for even a full year, but an exchange intermediary told me there is no bright line test for holding.     

That's test 1. 

And we are just getting ready to pass the septic licensing test which will help us save 6k to 7k per cabin by doing our own septic. 

Hi Anna,I am a realtor here in Cleveland, OH, born and raised and would love to help you.

Before contracting on the lot, you should check with the local municipality to verify building requirements, current code requirements, list of required documents, surveys, soil tests, engineered plans, etc.Once you have identified your lot and finalized your estimate its time to build.You or your GC will get the permits.For the final build, there are 2 ways to build, as either a cost plus, or fixed price project.Hope this helps, let me know if you have additional questions.