Ensure you have a solid understanding of the renovation costs and timeline.- **BRRRR (Buy, Rehab, Rent, Refinance, Repeat):** This strategy can be lucrative, but it requires careful planning and execution.

It took me a while but I do finally understand why that makes sense.

Most of the ultra wealthy individuals sacrifice a lot to obtain their wealth, and I won’t make those same sacrifices.Similarly, I don’t desire to have 5% body fat because I don’t want to put in the effort required for it.I understand that ultra wealthy is subjective, but the main point stands. 

If Im understanding correctly, youre buying the home from your mom who will take a first position lien on the property in exchange for carrying the $100k of the purchase price on a private note.

@Chris Morris have ALWAYS seen bad "deals" from rookie wholesalers that really don't understand what they are doing to provide value to the industry.It's getting worse because the real estate market has recovered from the 2010 Crash, yet many are still using tactics & methods developed during this time.Everyone in the industry needs to go back and look at what was being done BEFORE 2010 and start using those methods, updating them with current technology.

Drive around the neighborhoods to understand the lay of the land - if you have someone who will take you around and explain, better yet. 

Here's an ideal PM contract: The two keys are: The PM is incentivized to make you money, not charge high fees, and is contractually bound to provide reporting that you can understand in a timely manner. 

It's important to understand the zoning/code requirements and obtain all necessary permitting if you intend on operating your real estate as STR anywhere in the country.

The key is understanding your risk tolerance, time commitment, and financial goals to find the right balance.

However, when seeking a non-recourse lender, I suggest starting by reaching out to lenders who specialize in working with self-directed IRAs, as they’re more likely to understand the requirements.