Take that cash and pay capex/debt downs on the other 5, live debt free. 

I also discuss this in a free call each Monday/Friday that I host about STRs.

You cannot use the seller credit towards the down payment, only the closing costs.

@Marquez Davis You can expect a lot lower leverage with land purchase, but as @Sasha Mohammed said, there are products for ground up construction that roll the costs (horizontal and vertical) into the overall construction budget.

Those markets dealing with 10+ caps are usually pretty rough areas and you get needy tenants, higher Vacancy, higher maintenance costs and turnover expenses. 

See the 2020 aerial view below.Very little undeveloped private land is left in the Las Vegas Valley, and desirable areas cost more than $1 million per acre.

Even a risk free CD is offering 4-5%.Regarding the steps, generally that's correct. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I had a quick question.Does anyone know the promo code or where to find it for the 7 day free trial for pro?

I would also charge more than $250 for the extra hassles and costs.