Be very careful with this as a first time project! 

What do you need help with to move you toward your goal?

I saved money for a major renovation project that is eating up most of my reserve. 

We don't reach that point until we have had the opportunity to understand what an investor wants, their motivations, long-term goals, and risk profile.  

A trust transfer allows for smoother estate planning, and if inherited after their passing, the land receives a step-up in basis, reducing future capital gains tax.Each method has pros and cons depending on their estate plans and your long-term goals.

If I had to leave a takeaway from this post before getting too far in it would be that whatever goals are had you have, we have these goals for a reason and typically it does not go exactly as planned but even if it doesn't go as planned, we can pick up where we left off and give it a fresh start.

I think if you leverage 70% of it you’re going to seriously cut into your cash flow and personally if I was going to have $7M in debt I’d prefer it to be spread over several projects built slowly.

You’re a Project leader.

Starting locally vs. out of state:I always recommend starting locally if it aligns with your goals.

What goals do you hope to achieve through this property?