That is a big milestone.

Juan, congratulations, that is a huge milestone.

You don't fund every requested draw dollar-for-dollar -- you fund based on actual completion milestones, not just contractor ask.Second, lock your construction timeline into the loan terms.

Use Milestone-Based PaymentsNever pay large upfront amounts.

Now that this step is completed and I’ve put together my core team, my next big milestone is purchasing my first property which I want to ideally do within the next two months.As I'm looking to get my first rental, I want to make sure I establish a solid foundation for my business.

Even though there's been a recent push for new builds, we’re still in a massive hole—the state is tens of thousands of units short of a "healthy" market, and as of 2026, we're still trailing our 2025 milestones by several thousand units.

My end goal is to build a system that allows me to manage STRs at 35-45% contribution margin while charging 8% fee (right now we are projected to hit this milestone in Sept. 2026).

And require a detailed draw schedule tied to completion milestones, not just timeline.Once you've narrowed to two or three GCs, have them walk the property with you simultaneously.

The biggest risk isn’t habitability — it’s blurred lines between contractor, tenant, and leverage.If you allow it, I’d strongly recommend:• a short, written occupancy agreement separate from the construction contract,• clear start/end dates tied to milestones (not open-ended),• rent or a defined credit applied monthly (not netted at the end), and• language that occupancy does not pause payment obligations or excuse delays.Speed can improve, but only if expectations and exit terms are crystal clear up front.

This is why a good hard money lender will confirm that you have the necessary reserves to start the project before approving the loan—so you aren’t stuck covering everything out of pocket unexpectedly.A few tips that might help:Draw Schedule Planning – Work with your lender to map out a schedule tied to specific milestones (foundation, framing, roofing).