If my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion? 

I figured, if I hire several low skill employees it would equal one high skilled employee.

Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

That's not worth 15% of the job.Another thing to consider is that some managers will charge low management fees and then add maintenance fees to bring in more income, while others charge high, all-inclusive management fees.

I don't think enough people consider this aspect.Selling Stock: Selling part of your portfolio could work, but the 15% capital gains tax might make this an expensive choice unless the stock has underperformed or you’re diversifying away from riskier investments.HELOC: Using a HELOC on an existing property is a flexible and relatively low-cost option.

Also, what are some other low cost amenities that I can add to my STR that will yield a higher ROI?

I have actually cashed out a lot of my IRA now bc I have so much depreciation from RE that my tax bracket is very low and the taxes to pay on the IRA withdrawal are also pretty much non existent (taking aside the penalty). 

It allows you to take advantage of a low down payment loan.

Plus with no state income tax, cheap insurance, and very low property taxes, I’m probably starting $20k ahead of most people, and that’s a tax free $20k.).

Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry.