For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand. 

Because this property is located in midtown historic district of Sacramento, we feel there may be market for both MTR and STR, but first thing is we will target LTR and let 3 or 4 units filled in.When we first start developing this apartment from ground up, it was intended to flip and move on to the next project, with timing and interest rate etc.. we deiced to keep it as a cash cow for a while and see how things go.  

MF with many garages to convert to ADUs, parcel splits, full on development, coop/tic with the resources to handle financing challenges, etc.To raise money in this market as a newby will also be challenging unless you can get it from friends and family.

Recently Trump has announced the nomination of Scott Turner to be the new Secretary of the Dept of Housing and Urban Development, HUD.

Why would capital requirements be any less than traditional development? 

As I develop trust and confidence in them, I invest more, and I've come to have a significant portion of my net worth invested with some operators. 

A wholesaler in Pflugerville brought me a deal when their cash buyer fell through, and it ended up being a win-win.Digging Into Pre-Development Permits: Austin has a lot of new developments, and I’ve had success reaching out to property owners near upcoming projects.

I have a subdivision in Maryland that I’ve been developing for the past year.

Oh also number one skill to develop regardless of the route you take is being able to identify and get in contact with motivated sellers.

@Arif GungorurMake sure you check any HOA or development restrictions.