Several participants made the point in response that the county for a very long time has stood in the way of affordable housing being constructed, first and foremost by zoning, and that an STR ban isn't going to solve the problem.

We have been in Business since 2000, survived the 2008 collapse.

It’s a gem for insights into running and expanding a business.

At the current cost to build estimate $150/sqft, It appears a 1500-1700 sqft new construction will need to sale for around 399,9k to make a decent profit.

@Jonathan Blanco If you’re worried about $3000 in fees you’re in the wrong business.

I have 2 options:- finance the construction pre-selling the apt, and take my profits (expected to be around 700K pre-tax); or- finance the construction with a 6-7%/year loan (collateral = my house), keep the 10 units, and once the building is completed in 24 months, rent them for circa 180K/ year gross.

Ultimately responsibly using leverage (both equity and debt), implementing systems and buying good assets with realizable equity  is how you scale while operating a sustainable real estate business.

Value add opportunities are over-shadowed by massive amounts of new construction. 

We want to grow our real estate business to be able to quit our jobs.

It links to our business bank account and our business credit card so come tax time, deductions should be easier.