The hilly terrain is a main reason for this and you can't really see that on a map so knowing the areas is key.We have old housing stock as well so big things like plumbing and electrical can vary cost wise if they have or haven't been updated.

Cost of a built in closet around $500.00.  

However, this has to be the primary residence of everyone on title in order to qualify and even if that were all true, we're still only up to $1M that way.I agree with the other commenters, the parents should continue to own it and live in it as their primary, leave it to the daughter when they pass, and she inherits it at the stepped up cost basis. 

Glad you're building your business while still active duty, that's a powerful move! 

This deal highlights the power of well-executed renovations and a strong partnership in achieving impressive profits.

Quote from @Bryce Powers: I’m looking for a hard money loan to acquire an RV park alongside seller financing and was looking at this company.

If its four months from now, then explain to him he's going to be evicted, will have a record, and it will go to collections for all court costs and rent money owed, to the penny.

For example, should we focus on acquiring one high-quality property in a strong market, or would it make more sense to spread the investment across multiple lower-cost units in emerging areas?

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

I do understand all recent syndications are struggling with costs and tenants struggling to pay, so trying to be patient for now.