Really depends on what you're looking for, the nature of the project and again, location. 

I am the only real estate investor with my bookkeeper and at first she thought this was a little overboard but once she started setting rules in Quickbooks to simplify her work she quickly realized how simple this method makes things.

You can sell on financial method because there is such short demand there is all but no comp's to use for comp method, and if selling as turn-key, yup, financial method will be your friend for sure. 

Often times when a builder/buyer moves too fast, or is too busy and overlooks a key piece of due diligence, the unethical ones will try the "scorched earth" method and blame everyone but themselves, even when they know it was their own mistake, and they'll see if they can scare you, the seller, the title company et al into paying damages/fixing their problem. 

Given your situation, one strategy that could work really well for you is the BRRRR method (Buy, Rehab, Rent, Refinance, Repeat). 

The existing number of vacation rentals are so far over those caps that anyone who gets on the wait list today will likely wait 5-10 years before they're up for a permit.I do think this is the natural progression of what is still a relatively new industry.

And, even then, hitting your rate target would still be extremely challenging unless you were paying points up front, in which case it would probably make more sense to just try to put in a bigger down payment (or pay down the balance if refi) instead and get better terms naturally offered at the lower LTV.

I absolutely target retention through many methods.

And maybe it's not all or nothing for a given method, sometimes a combination of various financing tools is what wins.

Either through value add or naturally.