And Vystar wanting the land and the construction to perm makes a lot of sense given the terms they're offering.

What @Nathan Gesner said ^^^^ plus....do you have other construction skills like plumbing/electrical/tile/etc?

One of the disadvantages is if I add an ADU to my single family rental, it's considered a 2 unit and under rent control so I decided not to do that considering all the construction costs. 

Hey Jonathan,I found contractors through refferals and facebook groups, those contractors were great but they are not experienced in new construction; plus with me being out of state it would be ideal for me to hire a GC, instead of sub hiring ( i dont have time for that being far away),I am switching from rentals and fix and flips due to there's just more profit when doing new construction, and way more deals!

@Gash Nookala,Renting can indeed be slower in winter, but here are some tips to boost interest:Enhance Listing: Ensure your listing has detailed descriptions and high-quality photos—consider professional photography if needed.Competitive Pricing: Double-check local comps; even a slight price adjustment or incentives (like a reduced deposit) could attract more interest.Broaden Marketing: Beyond Zillow, Hemlane, and MLS, use social media, community boards, and local business connections to reach a wider audience.Flexible Lease Terms: Offering shorter or month-to-month leases might appeal to tenants during this slower season.Local Property Manager: A local pro can tap into their network and help fill the vacancy faster.These steps should help you find a tenant despite the seasonal slowdown.

adjust your price, be aggressive on it and it will rent.

Did you have an ARM that adjusted?

I have been in construction/rehab/renovation most all of my life so I have that covered.  

The issue why most wives don't like this strategy is because they have to move into an ugly home that will be a construction zone for the near future and they have a hard time looking past that.

Yes, you can put down 10% for a second home, HOWEVER the rate adjustments for a second home and investment property have been the same for several years now.