The process is very involved as you'll have to navigate pre-construction activities that involve architectural plans and approval from the city and then the construction activities (Shovel to soil) take anywhere from 5-9 months depending on how much your building. 

I will keep you posted where I end up with my first property :) I wish you all a happy and healthy 2025.

There will always be a level of fear of failure and you will most likely experience some, mitigating that with diligence will keep you in a healthy state of paranoia.

That's good for my credit profile and supports a healthy score.

Have you completed a geotechnical study & are the soils good?

Las Cruces is a small college town (home of the New Mexico State University Aggies) with healthy population of federal government workers and military contractors.

*the site currently needs to pass certain soil tests to make sure it is clear to develop, so this is a higher risk area for investment since it is not certain if the tests will come back positive till around the beginning of 2025.

You want to add value and reduce expenses.Also, it is wise to have a healthy liquid reserve available when buying commercial real estate.I would call commercial real estate brokers and find one with a teacher's heart.

I’d consider saving for the next few months until you’ve got 2-3 months left on your lease so you have a healthy reserve fund no matter what you decide.

Rents can’t realistically continue to appreciate at the rate they were if we are to maintain a healthy housing sector.