I have two units in a large complex up there, and the HOA has informed us to expect the cost to double, at a minimum...

Sub to is VERY dangerous for sellers... if this loan somehow got called.. and you did not have the equity and or the cash to make up the difference this could really hurt a seller.rare I know but sellers really need to understand the dangers of sub too and not just get sweet talked into them.

Do you notice a sweet spot both in property size/vicinity to the beach?

I've been watching a lot of videos from https://www.strlawguys.com/ but this is going to cost a good chunk of change to setup a fairly complex protection structure.

This could help you build confidence and add to your capital without the pressure of a larger, more complex project.You’re right that the Nashville/Central TN market has been hot, and while it’s cooling, rates are favorable.

@Najeh Davenport I had a pool for a 5-unit complex and went through same decision process as you.

For longer-term holds or more complex deals, IRR and Cap Rate might take center stage.It’s all about what aligns with your objectives and helps you make the best decisions for your projects.

Once you have >1M in equity, then I think its worth considering getting something slightly more complex.

.- A reverse 1031: Complex, and possible financing issues for the initial purchase before selling.

Ontario is pretty complexed in terms of development