Look for properties with high cash flow potential, good condition, and room for improvement, such as value-add opportunities.

Beyond the bedrock issue, soil conditions can be costly if the property has problematic soils such as too much silt, deep topsoil, or extensive wetlands.You'll also want to know what ordinances are going to affect your budget - things like tap fees, tree ordinances, storm water retention policies, etc.Bottom line is that you have to investigate ordinances, off-site conditions, and on-site conditions before you can even begin to budget your development.

•This balloon payment will be paid through a cash-out refinance of an investment property valued at $198,000.7.Remaining Balance: After the balloon payment, the remaining loan balance will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Payment TermsInitial Loan Terms (First 24 Months):The monthly payment for the first 24 months is based on a 12-year amortization schedule:Monthly Payment for First 24 Months: $1,573.39Remaining Balance at Month 24 (Prior to Balloon Payment):The balance after 24 months can be calculated using the amortization formula:Remaining Balance at Month 24: $157,113.92Balloon Payment:The balloon payment will be 50% of the remaining balance at Month 24:Balloon Payment Due at Month 24: $78,556.96Re-Amortization of Remaining Balance (After Balloon Payment):The remaining balance after the balloon payment will be:This amount will be re-amortized over 5 years (60 months) at the same 6.5% interest rate.Monthly Payment for Final 60 Months: $1,541.18Summary of Key Terms:•Purchase Price: $215,000•Down Payment: $43,000•Loan Amount: $172,000•Interest Rate: 6.5% (fixed)Initial Terms (First 24 Months):•Monthly Payment: $1,573.39•Balloon Payment Due at Month 24: $78,556.96Re-Amortized Terms (Final 60 Months):•Remaining Balance: $78,556.96•Monthly Payment: $1,541.18Additional Conditions:1.Prepayment Penalty: None.

For abandoned parks with infrastructure, some lenders may consider them as long as there’s a plan for the rehab and the infrastructure is in good condition or can be repaired.

I've learned that it's extremely important to find balance in this industry as your passion for your business can impact your personal life greatly!

Local market trends: Could you share any insights into current rental market conditions and future growth projections for these areas?

Additionally, it can help maximize renovations and improvements.36.4% of the total depreciable basis was classified as 5-year class life.

Here's what I'd do: Create a Word Document or Google Document Titled "DRAFT: Life Vision" do not use a template, do not pay some guru for this.

My previous tenant left the yard in a poor condition before moving out.

Also, for flips, I like to reserve an additional 15-20% in contingency for unforeseen conditions or changes.