And the puzzle includes many pieces that need put together.  

That's the toughest piece. 

Fees, waterfall structure, is a huge alignment of interest piece.

The thing I consistently struggle with is art, especially big pieces.  

I have pulled bits and pieces from forum posts to build my own spreadsheet much like you have.

Windows should operate properlyIf other appliances don't work well, if there are slow drains, if you have leaks, faulty outlets, etc - this is what you will keep running back to the house to fix.If you have lived there for some time, take a piece of paper and write down some of the things that really bothered you while living there.

Last piece of advice is to raise additional capital because shortages while building ground up can be a painful proposition.

I love the area.But, first, it's very clear that you are emotionally attached to both pieces of real estate for very good reason.

If I have one piece of advice it's to do 1 at a time and make sure that on each purchase you are learning at least 1 new skill you didn't know before.

The investor piece is a bit of chicken and the egg: you need to have an idea of what types of structures are out there (Kim and team, as well as other syndicators can give you some ideas).