A misconception about the real estate professional status (REPS) is that you can be in a real property trade or business (in your case, home building company) and still qualify. 

I typically opted for roughly 3 draws per deal, just to limit draw costs.Also, all of my lenders charged me interest on the full loan balance at closing, even though I hadn't drawn the whole loan (which annoyed me, but I get their perspective).So really, in my experience, I didn't find any to be "better or worse" they all seemed to have their own trade offs, i.e. more general accounting was easier for me, but higher draw cost.

Investors that have exponentially grown use the 1031 exchange like clockwork and continue to trade up.

so there's the trade-off.

@Lan Bak, That's the trade off. 

Use this same spreadsheet and build it out anytime you're looking for new professionals in all of the trades.

Blue states are tough, but i also don't forecast seeing the same appreciation rates in other places as I have in my backyard.Sometimes  the ROE falls below your target min simply because it is now worth so much more. 

If rates fall later this year as forecasted, it could be worth factoring in the possibility to refinance and bring my mortgage down low enough to continue renting it as a short term rental or consider renting it mid or long term. 

After having multiple meetings with contractors of different trades.

It is now being forecasted as one of the fastest growing markets in the U.S. and prices are still relatively low.