I'd recommend looking at costs. your build cost is going to be well over other homes because of the fixed costs like slab, Hvac, roof, etc. check the market drivers and weight the benefits of short term versus long term. long term is no furniture and help pays mortgage but at this size it doesn't really cover everything. we didn't find a lot of economies of scale in single family detached. can you build more than one unit?

Every day your contractor has to rework something they did incorrectly, missed, or misunderstood is another day of holding costs.

Hi Robert, I always look at the rehab and deciding what I can do vs the opportunity cost of spending my time elsewhere.

A deal that’s “close” but not quite right can still cost you big.

House hacking is a great way to reduce living costs while building equity, and BiggerPockets is a great place to network and gain insights.Good luck!

You should also request a personal financial statement to better understand their financial health and proof of funds to confirm they have the liquidity for down payments and closing costs.

That is what 1% of the $40,000 down payment costs were from when we refinanced it and started this process in Jan 2022.

It helps absorb the cost of your payment and gives you a better understanding of how REI actually works.

Let me know what experience you have and what monthly cost you paid for these utilities. 

The low down payment house hack is the way to go.