I'll incur start up cost setting up my STR; like furnishing my STR. 

-Administrative Burden: Managing substantial services may require more administrative work and potentially higher costs in terms of time and resources.Some investors do use creative strategies to maximize tax benefits, but this particular approach of converting long-term rentals into an active business reported on Schedule C while providing substantial services is less common.

It's not ideal working in multiple systems but it's the most cost effective solution we have found.

It is also a low-risk way to learn all the principles of real estate investing with very limited risk, gain experience with evaluating, buying, repairing, renting and managing a property.

Also when you transfer it to that borrower, make sure in your price you include the cost it is going to cost you to give that borrower a title policy. 

Things often DO take longer, and cost more, than expected. 

We've found funding for the construction costs, but not for the actual lots themselves.

As I grow and expand my business, I would like to start doing most, if not all, of my direct mail in-house to save mailing costs in the long term.

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

I have yet to syndicate but plan to and have heard from many to not syndicate unless the deal is over 1M as the costs associated can hurt the financials significantly.