This is one of my favorite strategies - allowing the tax authority to take it to foreclosure. 

Changing the tractor's oil in the driveway was another favorite: keeps the dust down in the summer.The developer risk is if that solid ever gets tested (phase one or phase two environmental study) you may have to dispose of it as toxic waste, which is super expensive.

The best thing to do would be to consult an attorney, but likely, that is not an option for everyone starting out.I'm not an attorney, and this is not legal advice, but some of the information that we include in our contracts is:- A clear scope of work - Payment schedule / Milestones- Change order approval process- Allowances for finished materials- Reasons to terminate the contract- Expectations for start date (X amount of time after final plans /permits are received or X amount of time after the contract is executed)- General schedule and timeline (This is where you could specify an end date - however it may be better use incentives rather than liquidated damage if your general contractor is late - we've done both, but found General Contractors respond better to getting something if they get done early instead of being punished for being late. 

It's pretty much a war zone there and I've had to communicate mostly by e-mail and text as cell service is about non-existent, and all the roads are closed so there's no driving over there and no gas even if you did get there. 

Some Lenders do take issue with "gift funds" or other liquidity provided by partners who are not on the Operating Agreement.

I operate in the E coast of central Florida and we have a significant dip in Sept into Thanksgiving, and then stay full for the duration of the year.  

Which ever home you choose as the main home it will be a tax deduction so it should work out in the long run.Another thing to consider is having two primary homes does not offer a great Schedule E option where you can have the bigger tax shelter. 

I am also a local investor in Denver and I would highly suggest attending some in-person networking events my favorite in the metro area is Rocky Mountain Women Invest, it's once a month, free to attend and the next meeting is this week on 10/1! 

Have 100k in liquid capital. 

However, some investors don't mind this strategy if they prefer not to put a lot of liquid in up front and plan to refi out within a few years of closing (which seems to be a great option with the talks of the FED reducing interest rates into 2025).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.