The game plan would be to keep this structure for 1-2 years with future full sale.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

Not promised or planned, actually funded. 

Building confidence, a plan, and understanding your risk tolerance are all keys to success. 

Over the next couple of years, I don’t plan to use the property often, but I may stay there occasionally when it’s not occupied.

Present this plan and go from there.

It's not just about creating beautiful spaces; it's about making every square foot work hard for both the investor and the end-user.Optimizing Space UtilizationThink about how reconfiguring a floor plan can add value.

This may come into play as you near the end of life and need to think about estate planning.4. 

Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments.

We plan to renovate it ourselves and turn it into a 1200sq ft 2/1 to STR.