As someone else mentioned I think that Househacking a multi family is your best bet and the recommendation I give to everyone looking to get started or even someone looking to buy their first home.House hack is the easiest barrier to entry becasue your cost for downpayment can be as little as 3.5% FHA or 5% conventional, and you usually get the best rates as a primary residence borrower. 

You can, but you will only have 1/3 of the total cost segregation benefits, and only for one year.Read this: https://www.biggerpockets.com/forums/51/topics/1122635-the-s... 

Developing a new major brand limited service (Hampton Inn for example) would run about 14 million in construction costs.  

I built the cost into the management fee of my next acquisition that I currently have under contract.

Plus, when done correctly, you as the KP can capture the ALL the Fed investment Tax Credits (ITC) plus the  State, MARCS, and Cost Seg Depreciation to massively offset your High W2 / 1099 Income - I wrote a book specifically for people like you and your wife to address your concerns. 

I found the renovations to be cost more and the ARV to be less (the agent or wholesaler will sometimes give you a higher ARV). 7) Get a full inspection and sewer line scope. 8) Have lots of cash reserves. 

It's an easier, less costly way for Homeowners to use their equity -- not just borrow against it.My experience: real estate law, finance and development. 

I did my closing just 45 days ago and also paid additional to bring the interest down, doing another loan means closing costs again.

High construction costs and interest rates?  

We pretty much all use "the lesser of" Cost or ARV (As Reparied Value) as the value we use for lending.