Many banks handling tax escrow accounts for mortgages have mistakenly thought there was one tax due twice/year or totally missed one of the taxes.Investors should research the SEV and the Non-Homestead property tax millage rates to project what the property taxes will be after adjustment.

It would be a rare new RE investor that could hope to have taken on this project without partners with experience.My point is investors in different stages of life and experience have different criteria for their RE investments.  

Maybe it’s hosting a casual weekend walkthrough of a recent rehab project so investors can see how their money is being put to work.

Check the property: Make sure it’s in decent shape – no need to take on a major project right away.

One of the most common mistakes beginners make is jumping into large rehab projects without having a solid team or boots on the ground. 

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.  

In Minneapolis, are there programs in place from non profits and the government to aid first time home buyers with costs?

So really to have a higher chance at success you should have both money to put in the deal to lower your leverage AND money on the sideline to cover those potential cap ex projects. 

Finish the project, take great pictures and go live quickly. 

Take advantage of the lower downpayment programs early on and once you are tapped out of conventional loans, I would consider alternative financing.