Study the market.

Study the market.

Maybe I need to study your story a little closer and figure out how to get myself into that same spot...

My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

I have a Bachelors of Arts in legal studies from CWU.

3 separate recent studies show it is currently cheaper to rent than own in virtually every large market and that it has never been more so than currently.  

I am in the process of studying for my licensing exam in the state of Tennessee and plan to work in the Chattanooga area upon completion of the test (which will be quite soon).

Quote from @Jorge Magana: Nathan good afternoon; I'm about to do my first cost seg study for a new construction project we recently finished; would you recommend REcostseg?

@Richard Benjamin Wilhite, @Bill B.makes some good points about loan terms and the strict identification rules for a 1031 exchange.I would add from a tax mitigation perspective that buying the largest property possible will give you the greatest amount of cost segregation possibility and at the lowest cost since it would be one study rather than several. 

Generally, the properties that benefit the most from a cost segregation study are properties that are remodeled, expanded, purchased or constructed after 1987, the year in which the Investment Tax Credit was enacted.