A clear, defined exit plan prior to purchase that assumes flat or negative appreciation over time.In summary, not saying investing in D-class is a no-win scenario, just that there is a certain type of street-smart, though as nails investor/PM that can handle this.

Lots of new investors hack duplexes without permits, but it always comes back to smack them in the face when the city finds out.You are reading what you want to hear and not trying to make smart investments.

Yes, your parents can take out a HELOC on their paid-off home to help fund your BRRRR, but it’s smart to have a contract in place to outline repayment terms and protect everyone involved.

I do not say any of this to discourage you but, to protect you, be smart!

With the Hawaii market, will it be smart to be negative for a few years and let appreciation catch up?

Your experience with having a home built by a local builder puts you in a good position to understand the process, and it's smart to ask these questions before diving in.Profit Sharing (50/50 Split): Yes, a 50/50 profit-sharing arrangement is fairly common when the investor funds the entire project.

I am representing a few right now and having taken a close look at the financials, I can confidently say that these can be a very smart investment.  

.- Pricing software w/ live revenue manager- Smart Lock software- 24/7 Guest Communication via platform, voice, text, email.- 24/7 Communication with owner or PM staff for maintenance or cleaning issues. 

It’s smart that you’re considering tenant preferences in the Columbus market before making your purchase.

I think a smart move with your 135k would be to first have a conversation with a CPA.