Buy and Hold?

I bought the land and my builder buddy is putting it up at cost we plan is to hold or maybe I buy him out.  

Regular schedule updates should be completed to track the progress vs. the baseline agreed upon schedule.

This includes if the property does not close.Your agent should be holding your hand through this process.  

.- My Strategy: I'd like to buy and hold residential rental properties.

What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

The ADU I am thinking of adding is on a triplex property and my understanding on the valuation of these types of properties is cap rates (4-5% depending on the neighborhood in LA) and thus adding more income to the property increases the value of the property assuming the cap rates hold Triplexes and quads are not appraised on cap rates if using conventional financing.  

If you need 10 minimum and have to hold those non-paying tenants until you get 10, what does that cost you in your financial model?

There is no communication except for an irrelevant biweekly blog that holds no value to me.  

I highly prefer Virginia for LTR buy and hold.