Very similar to what you're forecasting, although it seems like you're adding nicer features.

Some say TX has higher property taxes these days.I was thinking of moving to WA since this past year since it is on the West Coast and has okay weather.

Are you equipped to weather downturns-- I'm talking vacancies, capex, etc., all coming at once?

Negotiate with seller using the inspection report.Visit the area to get a feel for the weather/amenitiesIf you’re looking to get your money back down the line, don’t over spend on improvements Hope this helps! 

Risk Tolerance: Commercial real estate often involves larger investments and higher risks, but potentially higher rewards.Expertise and Resources: Commercial properties may require more specialized knowledge in leasing, property management, and market analysis.Market Conditions: Local market dynamics, including vacancy rates, rental trends, and economic forecasts, should influence your decision.Ultimately, both commercial and residential real estate can be profitable investments when approached wisely.

It sits right on the end of Lake Erie and gets ALL the lake effect snow.Not a show stopper, they know how to deal with snow and weather in Buffalo, but it is something to work into your numbers when you are doing your due diligence on a property.

This helps catch any discrepancies early and keeps you informed about your properties' performance.Budgeting and Forecasting: Create a budget for each property, including expected income, expenses, and reserves for maintenance or vacancies.

The fact that IR's accelerated outside of the worst case scenario models, even outside of a 2 SD, didn't have anything to do with it nor the fact that the local jurisdiction decided to extend the covid moratorium for an extra year resulting in no rent collection for a large portion of the MF property, was certainly factors not considered when applying basic math to the forecasting. 

Have you done any detailed research on land availability near Sedona, regulatory issues, builders for the type of property you are contemplating, conservative revenue forecasts based on actual comps, cost of a support network (cleaners, maintenance, etc), cost of utilities?

On thing to keep in mind are potentially elevated maintenance and landscaping costs, as the weather an be extreme ranging from intense rain to snow flurries on the beach.