Looking to build a team that can help acquire my first small multifamily! 

It takes time to build up the reputation, even in a popular area like Sedona.Sedona does have a ton of STRs but it sees in the neighborhood of 5m visitors a year so I wouldn't worry too much.Getting on VRBO is a must IMHO.

My guess is because new and improved buildings have been built?

I've started working with a builder locally on our first Development/Build Project.

Currently under contract for a large off-market residential property.Quick details: 4,200+ sqft 12bed / 5bath (2 kitchens) (No a flood zone)(Light - Medium rehab / rent-by-the-room play)My partner has been a PM in this community for 20+ years and is highly confident in this deal (as am I).The current issue is, we aren't confident the property can close with a bank due to a few seller complications.( ^Very long story, but if you want to hear it I will tell you haha)We're looking to over-raise about $335k ($255k purchase and $80k for the rehab).But we (and our contractors) know the rehab portion will come in a bit lower.Can anyone point me in the right direction?

I have great contractors, Property management experience and multi family,  very familiar with renovations as well.

It's a total gut job but I believe it's priced accordingly - I'm going with a contractor today to get some numbers since the area it's in houses have sold for over double.

The optimist in me states that if I build something beautiful/unique, I can stand out.

Total cost including acquisition price of $2.35m.I believe we will be able to create a total of 20-30 units in this building. 

Thank you for your insights and for pointing me to resources that should be reviewed so I can build a model in Excel to evaluate this decision.