Are hard money lenders active in the area.

It's been a long-time dream to do a new build and so I'm actively working to find land and begin the process.I agree that the profit margin you post seems very small.

This is a highly regulated activity by the CFPB.

I'm still actively searching for a solid contractor as I eye a BRRRR in early to mid 2025

Many times, hosts think the company or broker provided a STR policy just to find out when a claim is made there was a little sentence in the fine print that stated any STR activities canceled the policy out.

She said to get some activity going in my account and we can revisit in a month to reapply.

I’m looking for some advice and guidance.I get-it how many want to promote "there" way of doing things, and often state it as "you should ___", because it's what they would do. 

If you are hoping that this property will stand on its own with you living in it and not having to put your active income into it, then it might not be the best option for you right now. 

In your scenario, claiming that $117k depreciation deduction could lower your taxable income from $700k to $583k, which is a huge benefit in the short term.As for the RE pro status, if one of you becomes a full-time real estate professional, you can potentially offset active income (like W2) with passive losses from real estate. 

It’s a great way to connect with investors and professionals in the Phoenix market who are active in residential deals.Looking forward to seeing how your journey progresses—feel free to share updates or ask questions as you dive deeper into the residential side!