Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

I see the base interest rate for federal lending is 4.25%–4.50%.

The home was built in 2006, great neighborhood, close to the highways, close to everything new that is being built, close to a military base.

planning to list them for 2024 taxes as 6 different properties and when rehab will be done , I will get all 6 deeds, can I sell individual condo and 1031 based on basis I will show?

This actually seems like a great scenario for a 1031 exchange based on what you've said.

Even a single family builds can vary significantly based on site conditions and required structure/design.

I'm an investor and Realtor based in Central NJ. 

Based on the development expected over the next decade, I believe it's a great area to invest in. 

People were so quick to say he was way off base.   

FWIW, I'm going to base this off a 1,500 SF single family new build, but I'll predict the build cost will be a little over $200/SF.