Think about how can you make your property a no brainer when having to decide between an apartment and a home. 2-Contact homeowners who are not in your close proximity, so they do not feel threatened, and ask them what are they seeing in the market, and how are they are adjusting (most likely you are not the only one who is experiencing this). 3-  If you decide to work with a real estate agent, use one that works with rentals, and better yet, someone who specializes in property management as well, because they will help you weed out  bad applicants. 4- This last one I do not have experience with, but I would definitely try it if my rental was near a hospital: Partner with a company that finds housing for traveling nurses.

Wondering what others have experienced once the amended return is filed with IRS as far as a timeline on when I will receive my return?

I’d love to connect with some of the more experienced RE investors in and around the Rhode Island area.

I’m hoping to connect with someone experienced who has done what I’m trying to do successfully, and almost be like a mentor for me.

Because if you don't have at least 20-30% (and that's probably being lenient), to put into this transaction (a solid $400-$600k), then I'm in total agreement that you need a capital PARTNER, and another very experienced person to help you actually develop/execute.  

When I'm at a property myself I'm experienced enough to do a thorough visual inspection but it can sometimes be difficult for me to be there as I live out of town but I suppose perhaps the answer is that I do need to make sure I can be there in person.

Having trouble analyzing this deal as there are so many variables and I do not have the experiencing analyzing deals to make me feel comfortable taking the risk.Purchase price of the land would be $250,000 not including closing cost or fees, and construction for a new 3/2 home with an attached 1/1 ADU is estimated to cost around $300,000 - $400,000 finished.

Most lenders are charging 2pts these days, but I'm starting to see that approach 1pt or less, especially for experienced borrowers. 

I'd love to get some feedback and advice from more experienced investors.

As such, planning ahead and working with a cost segregation firm that is highly experienced with 1031 exchanges is key.Definitely reach out to your CPA and/or certified cost segregation professional.