Also wonder how appreciation plays out in that area as well.

PG's are worthless those that have PGs that are worth anything dont need gap funding they have the cash.this is a play for folks you know well .. not for internet facebook BP etc.. people that do this do it because they know you like you trust you and think your a good operator.Public has to many other choices that are much safer bet.. its not always about ROI with those with money..

I give it ten or so years before we start seeing this play out. 

If it's a long-term play, the potential savings on PMI with a conventional loan could be significant.Have you compared rates for both options?

Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area. 

And right now the bigger cabins are not a good cash flow play but might be a great equity play when you look back in two to three years.  

Keep track of those costs this year, they come into play in 2025 when it's in service.

If you ever want to chat more about this... or if you're curious how these strategies play out in markets like Austin or Scottsdale... feel free to reach out.

Do number, size, or area of investments owned play the biggest role in that decision? 

There’s demand for rentals in the area, and multi-family properties tend to hold value even in market shifts.New Construction: With SWFL growing fast, new construction is a big play, especially if you can tap into neighborhoods where demand is rising but inventory is still limited.