Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

Most lenders will vary how aggressive they will get based on the experience of the operator (you), but I don't know any that will lender to someone who's never done a spec build like you're contemplating.

I certainly want to err on the side of caution in terms of investing in a pricier asset (at least in my RE experience thus far). 

Let us know if you end up purchasing any through action and how that experience goes

But I find from personal experience and from my buyers' Airbnb experience that it's a bit of a hassle trying to get guests to rebook at the new listing.I don't know how strict Joshue Tree is at enforcement, but in Denver and Colorado Springs here, you could probably get away with an STR listing for three months without the license.

What is your experience? 

The "New Development Pitch" turned out to be a really good learning experience.

On the other hand, I feel one of the main advantages of passive investments (via syndication/crowdfunding) is that I can hire a manager who has years more experience than I can ever hope to obtain myself.

It also features a minisplit HVAC system and PVC exterior covering.We plan to market it as a vacation rental, given its potential appeal to eco-conscious travelers and those looking for a distinctive getaway experience.I’m reaching out to see if anyone has experience with selling or financing geodesic domes.

I'm wondering if that might be less of an issue for something more rustic and temporarily occupied like camping/RV.Any one have any thoughts, parallel experiences, or other basis for insight?