Here are my two cents...I recommend starting in a market with strong fundamentals, such as steady population growth, an influx of major corporations or large businesses relocating to the area, an affordable cost of living, and high rental demand.

It's important to let the seller know about this upfront so they don't get mad about paying the realtor... or you could pay the realtor out of your pocket or just add a small amount to the sales price if your lender (if you are using a lender) will allow it.

these issues are easily fixed by just putting more cash into them up front so your not having to feed them at the back end.. or better yet pay cash for them.  

Most cost segregation firms will provide a free cost/benefit analysis quote to help you determine if the tax benefits from the study will outweigh the costs.

You need to remember that, hopefully, this is a long-term play for you, so work with a trusted STR designer (I have great recommendations), and spend the money upfront so you can be the most successful in your area.

I assume a higher upfront cost as far as land purchase and the actual build but you would have a brand new house, instant equity and hopefully maintenance free for quite a while.

When you took in the increased cost of the build how did you arrive at that percentage?

.: I would focus more on how good of a deal it was vs how little it cost.

It’s one of the few places where you can realistically achieve solid returns without needing a massive upfront investment.If you’re open to exploring other markets, Detroit might be worth considering.

Costing them thousands and making them lose out on homes.