I talk to developers all over the us and most of what you have would pass my initial screening to move forward. then it would go to sponsor experience, liquidity, construction experience, site location and site reports, entitlements, construction partners, etc to clear all the conditions. make sure you have a plan to purchase all the fixtures we passed on that. not sure about hotel financing of beds, desks, etc 

For the last couple years I have been spending about 200K a year buying  tax liens.

I had a client of mine that was reached out to one of these buyers who was planning on taking his property, converting it into a boarding room situation, which was illegal and renting it out that way to maximize his returns.

Planning on the shaker white for the next house I get, as most people think it is a timeless look.

There they will go over the drawings/plans, walk the site, etc.. 

What is the expansion plan from the city?

Are you planning to refi?

I can even do LTR on this property but I would prefer str or mtr so there’s always a backup plan 

@Cole Payton, I’m of the mindset to go with conventional mortgages for houses that I plan on holding, until the reserve requirements become too difficult.  

Today, it depends on what you plan to do with the money.