Quote from @Dyllon Gibbs: Hi All,Does anyone have experience with rent guarantee insurance and any specific companies?

Hello Mike, It is nearly impossible to answer this question without taking a deep dive on the numbers of each but often times in expensive markets like Seattle the cost of construction is so high that it doesn't make sense to tear it down unless you can build something way bigger/nicer.

The best way to get experience is to do the thing.

There is new construction in the area.Thanks,Todd

(that is, assuming you've hired an agent with experience, market knowledge, and the wisdom to be able to guide you to what you're looking for). 

For C to B-Larger developments announced nearby-Increased activity in new construction-Building of commercial retail in or near the neighborhood. 

Private money lenders or construction loan specialists, on the other hand, are faster and more flexible, though their rates and terms will likely be less favorableFor a more rural area, local banks will almost certainly understand the market better, but connecting with private lenders who specialize in spec homes could provide more agility.

I’m brainstorming ideas on how I can market myself to potential mentors in the STR game in order to gain experience.

.: Anyone with experience (and/or referrals to lenders) with non-recourse loans?

A handful of quality flips, BRRRR's, or new construction can transform a neighborhood quickly.