With all this said, to answer your question of how you'd value this for a sale, I'd get a STR specific broker that's able to market your property as a turnkey STR with data on the rents, figures, etc.

Ensure you work with a team that is familiar with them (accountants / lawyers).A 1031 exchange is a way for real estate investors to defer paying taxes on the sale of investment property.

Where are we seeing the greater sense of defaults (specific state, county).

Specifically here, I've considered a few of the things that you both brought up, but the word "average" has a very specific meaning...

I love the concept especially given the need in your market for storing things like snow machines, boats, rvs etc, but also for repair or general "fab shops".As long as you are seeing the demand in your specific market for these spaces, and perhaps its worth getting some leases signed up prior to breaking ground but thats a personal preference thing, I think the numbers look promising if the use case is there.

Quote from @Chris Seveney: @Francisco AvancenaThere are specific lenders who will do land dealsBut of course not as many as traditional real estate.The key will be skin in the game - typically for land because it is less liquid than a home the lender will want to have a lower ltv on the deal I fund land flippers currently in  CO FLA WA ID MT NV AZ OR TX SC GA VA  one thing about land though LTV is lower and RATES are NOT the same as typical HML rates are higher for raw land but its a specialty niche and a business that I grew up in..

An experienced team or partner can also help boost confidence.Providing a combination of a solid commitment letter, proof of funds, and a clear, professional approach signals you’re serious and capable of closing the deal.

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

He is not trustworthy and i would stay far away from that company.Hi Kyle, is your problem with Blacktip or a specific “development firm” that’s helping you with your build/investment?  

I Came across a video from the bigger Pockets team, this video gave a ton of gems.