But also look at your cost base on the property.

we work with a multi state operator to find new sites and we generally target .6 - 1 acre for our buildings, but they are single tenant free standing buildings. 

Even with that being said, your holding cost is still positive on the second one. 27k of appreciation at 3% annualized. would cost you 4800 to get that not including loan paydown or the tax benefits of holding it at a loss each month. 

Also the work could end up costing me a lot more than 25K.  

I don't know how to post a poll in this forum, so please just feel free to post your response.WHAT ARE THE TOP TWO REASONS THAT YOU ARE INVESTING IN A STR AT THIS TIME?

I am weighing different strategies in the Chattanooga area and wanted to gain more insight into new construction cost structure in the region. 

Avoid and report him at all costs.

Ive only handled SFH and small multi-family rehabs, but never dealt with anything on this scale, and have no idea about the associated costs.

@Jay RitchieI came across this website which I think could help you: https://www.leadsafechicago.or...If you qualify for the city's programs, you may be able to get it done for free or at a discount.

Can you make your dad available or are you willing to teach people for free?