Find someone who can help you dial down on what YOU want as an asset, and has experience with that kind of property. 

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

Most lenders will vary how aggressive they will get based on the experience of the operator (you), but I don't know any that will lender to someone who's never done a spec build like you're contemplating.

Let us know if you end up purchasing any through action and how that experience goes

But I find from personal experience and from my buyers' Airbnb experience that it's a bit of a hassle trying to get guests to rebook at the new listing.I don't know how strict Joshue Tree is at enforcement, but in Denver and Colorado Springs here, you could probably get away with an STR listing for three months without the license.

What is your experience? 

I certainly want to err on the side of caution in terms of investing in a pricier asset (at least in my RE experience thus far). 

The "New Development Pitch" turned out to be a really good learning experience.

HI There;There are two properties built in 1894 located in South Orange, New Jersey.  Blocks away from Seton University, one with 11 bedrooms and 4 baths and the other with 14 bedrooms and 4 baths.Both show signs of d...

It also features a minisplit HVAC system and PVC exterior covering.We plan to market it as a vacation rental, given its potential appeal to eco-conscious travelers and those looking for a distinctive getaway experience.I’m reaching out to see if anyone has experience with selling or financing geodesic domes.