Be very careful with this as a first time project! 

Great tenant that always pays on time - been there for 5 years Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Be first position until he gets the construction loan, at that time he then will have the construction loan buy out his PML out an pay any accrual interest and origination fees.

Also for time being cancel the premium subscription as that will also probably get them to reach out to you

Quote from @Austin Brummett: I wouldn't do anything right now except continue to save and learn, because you are likely moving soon.Lenders usually want to see two years of employment history, so you won't qualify for a loan any time soon.

How many times can you spend $1500 to get an 88% return?

He gives an example of 123 Main street (total profit/total invested capital)/time in years.

I am very familiar with investing in your backyard, and am down there several times a week, and let me tell you, you are close to some great opportunities!

I don't have any real world experience at this time so I won't pretend to know, but I will be following and learning along with you. 

One of the main points of these regulations is to get people to start paying hotel occupancy taxes because at this time very few are permitted or paying taxes.