Think About Future Value & Target Demographics•Check the average income levels in the area.

We have a potential buyer of a lot in St Augustine, FL who would like to build a new single family short term rental.

Are they just extrapolating past growth to attain future growth?

The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  

It really depends on your bigger picture and also what you are hoping to accomplish in the future.

You can use HML don't get me wrong but if you just put a little bit effort in to pre-planning and getting all your ducks in a row then going with a traditional community bank would be a better option not only for your current new construction needs but also for future acquisitions.

Wishing you all the luck in your future. 

I’d be happy to exchange insights and explore potential opportunities.

Quote from @Richa Wardhan: It's inside the city zoned RG-1, we would like it to be a vacation home and STR Hey, RichaIs the home already a vacation home and STR or is it a primary residence looking to convert over after potential ADU built?

You can still find solid investment properties at reasonable prices, which can lead to strong cash flow.Diverse neighborhoods: Cleveland has a wide variety of neighborhoods, each with its own character and investment potential.