Because this property is located in midtown historic district of Sacramento, we feel there may be market for both MTR and STR, but first thing is we will target LTR and let 3 or 4 units filled in.When we first start developing this apartment from ground up, it was intended to flip and move on to the next project, with timing and interest rate etc.. we deiced to keep it as a cash cow for a while and see how things go.  

It takes time to develop trust and credibility with potential investors, so don't wait until the last minute.

For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand. 

In a nutshell, IL (where I live) too expensive of a market, but WI, MI, OH etc seems like you’d get more bang for your buck. also,  you can look at a City’s  consolidation plan and what their plans are for development to get a good forecasting of housing booms.

Tons of growth coming all over town with new developments constantly, plus the weather is great 9 months out of the year!

More like  2X to 5X the cash out.. these are done with builder developers on their deals So put out 300k get 300k back in profit plus the interest rate. most small builders/ developers need to have a equity partner so you just do both you lend the money and are the equity partner.. pretty clean..

If it is covered it's usually if caused by a covered loss meaning mold develops due to some other covered peril. 

(FYI - this was an SB9 "two unit development, not an SB9 lot split). 

(They broke the story on Beattie Development and they've asked other clients to contact them with your issues/complaints.) 

I have a close associate with a large project there and the local banks have turned off the spick-et on funding his developments and these are very large multi thousand acre deals.