We do like the UPREIT option as it provides another exit mechanism for selling the DST. 

Heya Ethan.I've completed 7 secondary suite renovations/developments now and it is extremely difficult to do a true BRRRR where you pull every dime back out again after you refinance.

Do you think that’s a good idea?

I don't regret it for a second.

Our market is somewhat shifting, but it is still showing signs of thriving, with many opportunities for growth. 

Sold it, setting a new price record for the street at the time.

It has been my life's mission to build my own duplex, house hack it & use it to catalyze the BRRR cycle.As I get closer to breaking ground on the project, I'm still not 100% confident in it's feasibility due to the costs of land & construction considering it is mandatory to secure an appraisal 20% above build & land cost. 

If your serious about growing a portfolio, best to partner with a tax firm that has helped 1000s of others do it, so you don't mistakes along the way.

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

It is a frightening experience but if you have the right team in place you'll be confident in the property you chose to close with and it will go smoothly.