It's not just about the numbers – it's about creating win-win scenarios where both parties can sleep well at night.3 principles I've learned after 4 years in real estate investing:1) Transparency builds trust. 

They've mandated its demolition but have allowed me to build an even larger addition (500 sq ft).The city is requesting building plans for this new addition.

congrats your doing all the  vertical as well or going to sell lots to production guys. 

You should confirm zoning allows it, then talk to the neighbors to ensure they are OK with it.

Thank you for your reply.

I would shop local to your STR.

Thank you for your help in advance.Regards,Alek

Go with your gut - it sounds like you have good instincts.

Savan cool well it is good to start and when it is the first deal it is wiser to be cautious and not over extend one self on the payment and rehab costs.

Don't overcomplicate it!