My land is also buildable and I have plans from an architect for a 3 bd/2 ba home which would cost 300k to build (it's in CA) and is in an excellent STR location...but I'd need a construction loan to build it.

If you need help with construction design, build, management of property I’m here to help.

How you build out your STR will provide the most margin of safety in the majority of markets.

For transparency:Our vision is to build a portfolio of STR and MTR. 

Your lease or statute may address this, but this is clearly endangering the lives of fellow tenants in the building, which is non-curable.

Once the project is complete, you determine market rate and buy out their share.Let's say it cost $60,000 to build the house and it is appraised for $120,000 after you are done (not including the land, which you already own).

Fast forward to today and I'm preparing to use Jeff (Blueprint) to fund a new build.

I haven't used any of their products, but Blueprint has worked with me and my business partner to strategize on a project I'm working towards now with a new build in Galena, IL.

So we are looking at potential to build a second house as part of the whole package down the road.

I'd like to start building a portfolio in more of a nascent market that has more room to grow in coming years.Perhaps Santa Fe still has some room to grow, as you suggest?