From there I would speak with a lender in/around Knoxville to see what lending options there may be for a new development.

Also you're in Cleveland of all places I would think that there are better opportunities out there.

(There are also fancy lofts for much more per bedroom.)I just heard from someone who is looking at my furnished listing that they'd like to pay $950/bedroom and think that's justified based on the other places they're seeing.

Is there an online calculator for this?

Learning that there is always another property around the corner is crucial.

There is a reason they are rare - they are extremely one sided and it’s not to your advantage

There are some solid advantages here: new construction typically means lower maintenance costs upfront, modern amenities that attract quality tenants, and potentially higher rental income.

or is there never any such thing as a sincere policy proposal?

Are there any meet ups, or group of investors who currently have meetings or any organized events?

To make a long story short, there are a lot of potential heirs of the property as the owner of the estate had many children and subsequently many grand and great grand children.