Through your local bank that you are using, are you reapplying for each new home for a seperate construction loan or are you setup as a credit line with them and just submit a new budget for each new home 7 mil credit line  ... new budget for each plan that has been pre appraised in the MAI at the beginning of the project.. they did have to update the Mai last summer but again did it at their cost not mine.. banks have to paper their files.. even though we are selling the same floor plans for 100k more per plan than the original numbers came it at and bank has been paid and has all the closing statements showing this data..

I would have to get with the property manager and mimic the exact plans they have set up in the lease, all of which were probably customized by the PM to get a few extra dollars.  

You need to set some criteria to help identify your "quality deal."

Then let's set up a call to discuss your options and figure out a strategy for Home 2.Jeff

I am of the opinion that the best STRs are properties that don't compete with hotels - meaning that they are 4-5 bedrooms for large groups or have a unique location/setting. 

I generally rule out most single family homes as viable rentals, as prices are pretty high relative to rents, so aside from some downtown neighborhoods, typically you do not find large areas of single family rental neighborhoods (a median sale price on a 3 bed, 2 bath home so far this year in Dane County on MLS sales data is at $430k). 

Tip #1 - no such thing as one perfect market There is lots of data on Bigger Pockets and MTR experts that have released rankings of top cities for next year, but remember it's not just about the purchase-- it's also about the operation.

If you’re set on a duplex with minimal rehab, an investor focused agent should have a strong network of contractors who can give you quick quotes, so you don’t wind up with any pricey surprises.

Some companies allow property owners to select tenants and set the screening criteria...We do not - our criteria does not bend. 

Specifically, I’d love to hear about best practices for managing shared spaces, screening tenants, and setting up house rules.Additionally, I plan to split the utilities among the tenants—any advice on how to handle this efficiently would be greatly appreciated!