When managing a "project", if things do not come in where you expect with this estimate you often have the ability to manage the project back in line by adjusting the scope of work or the timeline.

Solid plan... the issue I face with your first point is time wasted = money left on the table... instead of waiting for a correction, I feel that building from the ground up is the move, this way you're creating your own opportunity rather than waiting for a unicorn project.

Investors who’ve actually run the numbers know better too.What makes this niche interesting isn’t just the demand (which is strong), or the margins (which can be excellent), but the control you have over the outcome if you build it the right way.In a phased development model, the biggest value drivers happen long before the first guest checks in:choosing land with the right zoning pathdesigning infrastructure that can scale without reworksequencing buildout so the project pays for its own growthmatching site mix to real demand, not assumptionsbuilding a guest experience that earns repeat stays, not just bookingsOnce those pieces are right, the downside shrinks fast.You’re not relying on one tenant type, one lease structure, or one rent assumption.

Some folks will literally post price bids for a project they are doing.

I had a project of 3 homes on a 50X 120 lot that ran street to street on the back street I could do off street parking next to the house but no garage I wanted to go underneath the duplex on teh other street and that was not allow parking had to be ON the street.. you know planners everyone will want to ride their bike or take a bus to work.

When I started in WA DC area funding a few new projects..

I had a project where we opened a wall up and found the electrical was in terrible condition.

I am considering investing in one of their syndication projects in Texas.

The city's mayor just initiated an initiative to upgrade and add new housing to the city and there are several huge capital improvement projects underway that should bring more business, visitors and residents alike to the city between 2021-2025. 

I’ve looked into STRsearch.com before, they do offer solid analytics tools, especially for market comparisons and revenue projections.