The benefit is significantly less red tape compared to working with your traditional local banks who also do new construction financing.

As you begin your REI journey here is one tip I have for you:Use this website as you are trying to narrow down the places you want to invest in. https://www.areavibes.com/Its awesome because it gives you a "total livability score" & you can compare different zip codes & streets to others. 

Verify employment and call previous landlords to avoid tenants with red flags.Rent Setting: Research comparable rentals in your neighborhood to ensure your rent is competitive.Use Technology: RentRedi is a great choice.

The new appraisal just doesn’t make sense, especially when compared to the first one.

To rent the home, I would lose about $2,500 per month (based on comparable rents in my area, property management fees, etc).Both options loose the same amount by roughly 2 years, and by this time, I still will not have built up much more equity in the home to make selling it a break even unless there is price appreciation by then.My dilemma is this: I speculate that my home will not appreciate much in the next 3-5 years due to the rapid pace of development in the surrounding area.In 5-10+ years, maybe, but by then I'll have bled $150,000 - $300,000.I have thought about this a lot and feel that I mar'-too close to the problem to see the best solution.

I'd be happy to get you some rough terms to compare to other options that you have, but I also agree with Jay that you should be wary of just selling and loosing that equity that you've built up in the property.

Appreciation = Specilation/Gambling.We have little control over the factors that affect it, albeit for making improvements that will force it to compare with other likenpropetoes that are in a higher bracket.

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.For ARV (After Repair Value), you’re absolutely right—it’s all about comparable sales ("comps").

I'd like to know your thoughts/advice on how to compare long-term and mid-term rentals.

Relative AffordabilityDespite recent price increases, Buffalo’s housing market remains more affordable compared to many other U.S. metros.