Quote from @Lorraine Hadden: Quote from @JD Martin: Interesting perspective - I have always represented myself in deals in the state where I am licensed.

So from a lenders perspective, 1.

I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this).

You may be under or over as the market continues to shift!

His point on the revenue perspective is right on. 

I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this).

Hey Errol, Im open to getting on the phone with you to give you some perspective of this type of construction and what you should expect if you decide to move forward.

From an owner perspective, that does not want to deal with an STR it may be good.

A rental property analysis can give you a different perspective. 

We represent several developers in Cedar Park, they all developed for owner user + rentals, but I'd say the main thing from a legal perspective is ensuring good GC and sub agreements.