Meanwhile, I have 10 units management experience. 

Happy to share my experience if you want to send me a PM.Ryan

Housing has always been super affordable there, and new construction has increased in recent years.

I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

Then use the experience to work out the kinks and build a strong boots on the ground team.

Tell the lender you want a construction loan online of credit.  

@Felicia Vinces it sounds like you missed our Year End Live show and Podcast of "Real Estate Notes Show' where 2 15 year experience note investors break down what makes a note valuable.  

Wondering if anyone has experience there?

These platforms are run by techies with no investing experience.  

Cost approach A straightforward method that adds the cost of the land to the cost of building construction.