There's no precise figure because no one will understand your STR or market as well as you do- or, as well as you will (with time).

And markets with strong appreciation typically won't have much cashflow.

Connecting with local GC groups in your area will help you connect with subcontractors, find out tips and tricks of the trade in your local area (since all areas and their real estate differ slightly).Also, have you considered the motivation behind building a brand-new duplex versus finding one on the market?

Natural appreciation usually takes holding the property for at least a few years (just depending on what the RE market does going forward).  

Do you know the other markets well? 

If they are, I would pay them off first.I would invest in a different market(likely bigger market) where you can find reliable contractors or find a PM that will be able to manage the properties.

It is a great market.

Rates:$2,000 Daily$10,000 Weekly$30,000 Monthly$25,000 Long Term Monthly$3,000 Holiday Daily$15,000 Holiday WeeklyI am looking for insight for anyone who has experience in this market to see how realistic that is... 

Then again, curb appeal doesn't matter as much in the inner-city parts of my market - more so in the suburbs.Lastly, if a property is newly built/renovated, 'neutral' may not be the best route.

As you grow your portfolio, they can help you secure additional funding, refinance existing loans, and adapt to changing market conditions.Financing doesn’t have to be a roadblock to your real estate dreams.