Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

I'm looking for someone is willing to advise/ teach/talk and share their past experiences. 

Thank you all for sharing your experiences!

Consider this, as an “experiment”, 24 months ago I invested $300,000 in equal amounts ($30,000 in each) in 10 speculative small REITs.  

Again, I have extensive experience over the last 10 or so years.All the best  

I do a meetup in Mesa on Saturday morning's which is a good place to come meet even more RE professionals and investors.You have the experience so now you just need the right strategy to grow the portfolio.

I don't do this for a living and have no real world experience, but at 40% down, even with a 7% int rate, that seems like a high monthly payment.

@Stephanie Menard, a few comments based on my own experience.1.

I have 10 years of experience in retail real estate and a couple of partners who are interested in investing with me.

Now we're seeing investors pouring money into buying Class C rentals - but, many are getting burned.In our experience & opinion, the main determinant of property Class is not location or even property condition, those are #2 and #3.