Now you have x% of your original property equity, less cash-out fees and however much you need to pay to service the original loan while you're doing business development. 

It is the State capital so there is always economic development happening which drives job growth and demand for housing.

In my developments, I went to everyone I could in the area and got the most RELIABLE (not cheapest) person in order to make my numbers work the best. 

What is the experience of the group at performing this sort of development?  

Strategic Purchase: Acquired a discounted double lot below market value with a $17k impact fee credit.Custom Design: Built a 6-bed, 5-bath home tailored for co-living or multi-gen use, maximizing tenant appeal.Efficient Management: Managed construction, and self-managed operations to minimize costs.Premium Marketing: Furnished the property and used multiple platforms to attract quality tenants quickly, achieving full occupancy.What was the outcome?

If you develop a great relationship with local credit unions, you'll be surprised by what all they're capable of.   

I self manage 29 SFR and do all my taxes on turbo tax.

My late wife and I held joint interests in a piece of real estate in our separate individual self directed 401k accounts.

As a self proclaimed rookie, I recommend starting by conducting your own initial assessment of the property.

Self storage is great.