The foundation was already approved, permitted and finaled years ago for a 3400 sf house, and its solid and I won't be building directly on the overhang edge; but rather back away from the edge a few feet to prevent any load issues all the weight will be on the longer sides of the existing footing.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

I have supplemental insurance so I am of the mindset that they should get rid of this bogus insurance and lower my host fees..

Your background gives you a unique edge in making that pitch.

This aligns with my interest in passive income.I realize I am not cut out for the entire REI process of consistently finding multiple properties for particular exit strategies.

I'll save you the details but...Per door cost: $63,300All in Cost: 700kTotal Revenue: 137k(ish) annuallyNOI: 65-73% (in the expenses we included: insurance, taxes, $75/month per door repair expense, management fee 8%, grass cutting, & a misc fund for random crap business license, etc.)Now...

Ask for seller concessions to cut down closing costs.

It was a huge investment, but it cut the electricity cost by the full 2K per/mo all summer.

Perfect for today’s market.Speed of Approval: He was aproved and had access to funds within two weeks, which gave him the edge to close on a high-potential property.Clear Communication: The team explained everything in plain English.

Some have done owner financing with an agreement to pay all interest and equity splits when the home sells others have done it where they do a quitclaim adding their name onto title with the seller so once rehab is done the seller can't try and cut you out of the deal.