I just used cash to build my first 3 specs no loans at all.. once done and sold then I went to lima got one loan from them.. then went to local bank ( much much cheaper) and got a 3 mil  guidance line and went on to build 30 or so in charleston.. you have to prove the model.. its not like buying a rental where lenders look strongly at your fico  fico is required but not the main consideration like and investor loan and all you need is 20% down or 30% down and a few bucks in reserve that wont fly with spec loans..

Phoenix has been a hot market for rentals recently, but consider how long-term trends, interest rates, or construction projects might impact demand.Here’s a quick story: A friend of mine bought a new-build in a suburban development a few years back.

Rentals have remained pretty hot outside of common slower times around holidays.

 - recognize you are combining 2 if the highest effory rent models: student rental and rent by room. 

If there is someone's busines model you aspire to, see what they are doing.

Today you can get funding for a good deal without an issue, so the business model is kind of obsolete.I used to buy BRRRR deals, but over the last years, we switched to buying homes that are in move-in ready condition.

. :)  we just got some of those hot chicken places out here in Orygun

Just be the absolute best host you can be for the first year -- communicate clearly and quickly, make sure cleaning is top-notch, make sure all amenities work (hot tub is hot, TV remotes have batteries, etc. etc.)

Perhaps one day, I will come to understand your business model, whether with NextLevelEquity.com, or Goodin Development.

If you're starting with this model, it can be highly beneficial as it allows you to gain first-hand experience with the daily operations, actions that must be taken, requirements, market demands, and more.