@Diandre Pierce some excellent suggestions here on the thread.

I'd highly recommend you hire an excellent PM once the unit is ready.

Hey Joanne, you’re definitely onto something with room rentals.. it can be an excellent strategy for offsetting a hefty mortgage and, in some cases, bringing in higher total rent than a single lease.

A good check-in and check-out is excellent. 

Lots more buyers in the 2 million range and many all cash so best case might get a 6 cap whereas if a DST is a buying a 20 million property the cap rate and loan available can change for higher returns.

are you investing all cash or trying to get a loan? 

We used an excellent local bank that helped us to get everything we needed for the construction loan and we were able to fund the entire project without investors.

It’s crucial to ensure that your cash reserves can cover not only the mortgage but also unexpected expenses during the remodel.The 30% housing rule is a helpful guideline to avoid overextending yourself, and ideally, you should be comfortable with your monthly housing costs even without rental income.

Books, podcasts, and videos are another excellent source of learning. 

With out knowing your actual cash position, it is tough to tell.