I attended the RALA 3-day training in Phoenix and took a couple of online courses as well, and while I found these courses to be very valuable in helping get a clearer understanding of the space and what it might take to be successful, I eventually I found it most beneficial to bring in a partner/advisor who has built residential assisted living facilities here in Texas and has been running them successfully.

Yea they would keep that in place and you'd get a second position mortgage for the rest at, well, higher than todays rates.

Hi @Joseph Goode I didn't see any responses on this so I wanted to see if anyone did get back to you via PM as I am interested in this topic as well.   

Thanks your agreement should allow you to keep the deposit.

However, there is a specific deal Which I find hard to understand the ARV for.It is a Single Family Home, 2 Bedroom 1 Bathroom, 850 SQFT.These two comps have a price gap I find hard to understand, even when considering the difference in renovation level.If anyone knows this market well enough to understand the cause of this difference, and if it might be due to an issue with the location, or if there is anything I am missing.Comp 1 - 1011 Elm Street, Burlington, NC, 27217 (120K)Comp 2 - 1109 Walnut Street, Burlington, NC, 27217 (120K)Comp 3 - 1505 N Park Ave, Burlington, NC, 27217 (180K)Thank you!

Add AC and you need a good HVAC tech...if they come from the next town, again their availability may be limited and they may charge trip charges.Do you know this town well? 

https://www.biggerpockets.com/forums/51/topics/1122635-the-s...For 2024, it will be a mixed-use personal/vacation property on which no losses are allowed at all.

Bought under value and currently adding a couple more homes and have brought two new tenants in as well What was the outcome?

It normally doesn't cost you any money to open and to be able to access that large amount of equity to buy or stabalize your current portfolio allows you so much more opportunity costs.For instance, I took a $200K LOC out on my primary residence when I first started in real estate.

Not to say you cannot do well, but it’ll take some extra TLC.