Thanks @Joelle B.: Buncombe county paused their plans for now.

For the community development dept, you'll need proper plans (architect), site survey, permits, etc. when you're ready. 

Meet with financial advisers/wealth managers and see what other options other than real estate there are and how to best allocate / diversify. ie have you maxed out your TFSA?

We are working on our first flip house and we didn't plan to do the BRRRR method, although it has come up in conversation multiple times due to the area it is in, we are still tossing the idea around of keeping it as a rental.

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 this year).It really comes down to investing in a growing market, in a good neighborhood & building a great team to support you.

So this requires some upfront planning. 

Quote from @Danth Aman: Quote from @Victor Patel: I don't see a problem with this as he has disclosed his financial interest in the property and him being a licensed agent. 

Are you planning to rent it out or live in it?

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

You don't need 20% down.Sounds like a great plan.