I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property).  

We abated the walls, and that added $10,000 to our costs.

I've never done any Sacramento STR loans and only been hit up for one potential financing opportunity there.

.: I’m currently renovating a rental property and exploring ways to manage costs without compromising on quality.

@Dhruv Patel I believe you are getting ahead of yourself....Where in the US are you all-in (land acquisition, soft costs, hard construction) on new construction multi-family for $100/ft.

Looking for something with low acquisition cost, and meets or exceeds the 1% rule.  

However, in my experience the good wholesalers understand comps and construction costs, are transparent, have good referrals, and can actually get you in the property. 

A second STR in a market with year-round cash flow potential might balance out your portfolio and give you more consistent income.

Waiting until the 1-year period ends avoids potential loan issues and simplifies things.

The latter would create mortgage rates issues, the former will eliminate a lot of fake demand and some material real demand in the housing market that is bid side.Mortgage rates higher + build costs higher(less labor + tariffs)= Kill demand.