My plan would then be to diversify by partnering with my mother-in-law on fix-and-flip projects for a year or two, which would increase liquidity.

I think working on getting liquid capital for these projects is step one for me.

Everything always takes longer and is more costly than projected.

I'm starting my first BRRRR project and just closed on a property using cash.

@Blake Kirby the new construction is mostly SFHs on the far outskirts, or "luxury" apartments and/or condos as infill projects.

. - Projects give us visibility on my projects- My CPA can easily access the reports for tax preparation.

@Otis Clayton To partner in real estate effectively, establish a clear structure like an LLC for liability protection or a Joint Venture for single projects.

Feel free to DM/call me so i can help you with your first F&F project.

A picture is worth a 1000 words and a project we helped someone on in the UP was able to gain support and approval by getting renderings done showing what the finished project would look like.

If your "estimate" works for you and your "high estimate" is still workable for you, then you can feel confident that if you use good project management practices that you can manage the project to somewhere between those 2 numbers at worst.