But it will only be tax-free if you also sell your primary house within two years of selling the land. 

I might take another look after I free up some brain space.. 

@David SavoyIf you're looking for MF feel free to message me, I can get you the info for the meetup my wife and I run in Austin.

I am in underwriting now with a small local bank who does have the local knowledge you mentioned, fingers crossed.I do have a fairly comprehensive business plan but did not get into the level of detail for the construction that you mentioned.  

Overall, I want to do whatever is necessary (and feasible) to drive up rent in this unit, so please feel free to advice !

It does not need to rain nearby to get a flash flood down a wash, that is why hiking slot canyons requires a knowledgeable permitted guide (definitely a bucket list item). 

Feel free to reach out if I can be of any assistance.

For all these reasons we will confident in this area.We have similar deal going on where we sell our properties with Build in Appreciation (8-10%) we do free property management for 1 year, and guarantee rent for 1 yr (rent gap credits.) 

Do you really believe an attorney is going to give you the keys for free?

Feel free to reach out if you have any questions, I'd be happy to assist.