I’ve heard different things like taking a Fannie Mae loan out then converting it to a LLC and the likelihood of triggering a due on sale clause is minimal.

Doing a quick scan off I see there are about 5k STRs in Colorado Springs (assuming you are there and not a neighboring town I am gonna say the town has minimal restrictions).

I mean this stuff happens in rental houses that are nice and newer or new. you either keep them in great shape which cost money or you buy rentals that you simply do minimal work on as the tenants paying 700 or 800 month have a very different expectation than a tenant paying 1700 a month.

minimizing free cash flow with larger mortgages or shorter term mortgages takes the cash flow which would be taxed and puts it into the amortization of the loan. 

Focus on cash flow and exit strategies, and consider starting with a smaller project to gain experience and minimize risk.Good luck!

Or very very minimal.

I set up the entities using diff companies and paid about $1000 for all three (I got minimal boilerplate operating agreements).

I am not telling you to do one thing or another  Also, i believe that FHA will not allow renovations to a home unless it’s already livable with minimal to no repairs visually needed but go check.

I’m hoping to not build until I acquire more revenue from profits of the plot via flea market, parking, boat parking, or something else that requires minimal investment.

Consider off-market sales to avoid public listings and minimize tenant disruption, using discreet marketing or a wholesale strategy.