The two existing LTR units (on my family’s property) were built 5–8 years ago at a cost of about $80,000 per unit, so I’m estimating a 20% increase in costs for the new builds.My plan is to use the equity in the land as the down payment for the construction loan, which I expect will make closing costs the primary upfront expense.

I think you've forgotten about the concept of Constructive Receipt. 

. 💪 what's this have to do with new construction and development? 

During the "fix up" process, you would use a different kind of loan that will end up converting to a DSCR loan once you have tenants living in the unit(s).So, I would need to use maybe a construction loan for the renovations and then convert it to a DSCR loan?

(I answered for you.)Construction Loans: Will you make these?

Can someone walk me through the thought process I should be using when constructing the offer?

If you are exploring Memphis as a potential market to complete your first BRRRR, I'd be happy to connect you with my amazing GC with Triumph Construction.

With the massive Taiwanese semiconductor plant under construction in Phoenix, bringing billions in investment and thousands of jobs, how significant do you think the ripple effect will be on the local real estate market?

I started a property management company in 2017 and am now managing almost 800 doors and 6 construction crews.If I could do it all over again, I would have spent a little more time setting up business systems prior to jumping in. 

Thank you in advance for any constructive feedback.