There is no current tax on rental income and capital gains.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

The after-repair value determines if the property is a good BRRRR or flip.

Ensure you collect a proper security deposit (typically one month's rent in Florida) to cover potential damages.Your plan to increase rent next year makes sense given rising costs (taxes, insurance, and maintenance).

Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development. 

That home belonged to my grandmother and was stuck in probate until I ushered it to finish line after a long 21 years.

She put in $100k you’re going to give her about $30k of that back after commissions.

Attractive Tax Environment for InvestorsGermany offers favorable tax policies for property investors.

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.

Interesting as there were a couple of posts a year ago after the widely distributed article in the media essentially calling it a STR crash.