Similar areas that have legal under utilized permitted space convert to max studios that you can fit.  

But bottom line every place is different and there is no one size fits all for the development game.In Oregon and WA many banks will go 50% loan to cost not to exceed 50 or 60% LTV on dirt.. but for me I always pay cash for the dirt.

Learn the ins and outs of fit and finish, proper preparation, proper installation, rough in locations & MEP details... thinking 10 steps ahead on everything.

3: Does the property fit with your current investing goals? 

It might be worth taking a look to see if they’re a good fit for you.

Take it FWIW.I will say my recommendation is to not use the agents that fit the criteria of my first & second points.

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

There's no one size fits all of course, but generally the STR/MTR/LTR mix in a multi-family unit can be challenging because the way renters utilize these properties is so different.

Meanwhile, if you ever consider other markets for diversification, places like Omaha, Chicago, Austin, San Diego, San Antonio or right here in Phoenix each have their own flavor of opportunity.Out of curiosity, how do you see Jasper fitting into your broader investment goals?

Knowledge is power:Thorough Inspections: Minimize surprises with detailed inspections and due diligence.Strong Screening: Careful tenant selection reduces vacancy and headaches.Diversification: Spread your investments across different locations and property types to mitigate risk.Financial Planning: Maintain a buffer and choose financing options that fit your long-term goals.