Personally I would stay away from this.  

My first impression is that your numbers in the current economic climate seem a little rosy.I also have friends that are builders and I try to stay in touch with them on costs as we mostly do "to the studs" renovations when we buy a place. 

All lenders have strengths and weaknesses, staying close to them is the only way to learn what each of those are.

There is always a transition period where selling owner stays on and over time new owner transitions into full control.

But you need your guest avatar who is looking for an off-grid, unplugged stay, to know your home is available.

It makes more sense for me to stay in southern fl monetarily but something in New Orleans would be fun if it made sense.

First set stayed 7 years.

It's pricey and competitive, but stay in your own backyard, consistently look for deals, and you'll find a great asset.

I've had a few of those where they stayed 4 years and were pretty easy on the house. 

Existing deals will instead be saved by NOI growth driven by rent growth--if you have the staying power to hold on long enough.Supply:  High deliveries remain today mostly because of "hang over" from projects that are taking longer to complete than developers (and industry analysts) expected.