This balanced approach meets your financial goals, diversifies risk, and aligns with your preference for conservative real estate investments.This post does not create a CPA-Client relationship.

This post does not create a CPA-Client relationship.

Sorry to hear about your relationship issue.

He was previously my teacher in high school, so I've had a relationship with him and I've signed a buyer's agreement with him.

@Bart Lucas a rent to own option is a unilateral relationship (not bilateral).

Budget $15-$20k for a rewire.To take it a step further, if you build a relationship with your subcontractors they may even teach you how they estimate so you can repeatedly build a robust estimate completely on your own.Excluded from the above is foundation issues & outages in the framing (often caused by foundation issues).

Be careful of investing based on existing relationship.  

It's indeed not very common that a developer would build a house for you like that so I imagine he'll do it because of your relationship.

I would not overthink this, but would start by building a solid professional relationship with your tenants.

In many cases, it takes a few years to really start seeing any appreciable cash flow, but it is the relationships we make, the learning and overcoming challenges and obstacles every day that is the true rewards in this business.