If targeting new construction, keep searching for an extended period of time until you find a builder that has a good deal, avoid builders that clearly will be difficult to work with, it was easy to spot.

I am an appraiser here in BC but I have found that the AMCs have made it virtually impossible to succeed financially in the field which means it cannot be a full time commitment, namely in BC where I currently live.

I strongly suggest you have an attorney draw up the contracts (and one has who has already done this many times, as they will already have templates they use).At the minimum, a lender need a Mortgage but I would also recommend for more protection, a lender will want a JV agreement, promissory, personal guarantee and if possible, to have the deal cross-collateralized with another property. 

.- We could furnish it and go for STR/MTR simultaneously, but we get occupancy near end of October, which isn't the best time for STR.

I have been looking to manage a sober living or transitional housing building for some time.

@Amby BhagtaniBesides looking at market stats look at the time and energy that you can put into a market.

Jerome Powell announced a few weeks ago that the time has come for the Fed to cut rates, and we are expecting to hear that announcement in the next Fed meeting on September 17-18.

Its real-time data, tailored for short-term rentals, offers an accurate assessment of a property’s income potential. 

While full recovery remains elusive, the sector's current stability is a positive sign amid ongoing challenges.ConclusionThe second half of 2024 presents a varied landscape for commercial real estate, with opportunities and challenges differing across sectors.

For the record, we are very comfortable with our local market in Pittsburgh PA so for the time being we will be sticking to loans in the region.Thoughts?