Another cheap piece of mind for the newer buyer in the market who has been an apartment dweller their whole lives is to off to buy a 1-3 year Home warranty for them at settlement.

That way they truly care about the project’s outcome (time and money) and are your partner helping you solve the challenges that will inevitably arise during construction.Taking a smaller piece of the pie to gain experience can go a long way in the bigger picture.  

It's the distinction between someone with a real estate business and someone who buys real estate.

Since you work out of town you can recruit people to drive around for you give him a piece of the deal or family members can help you for.

If there is a blur in the distinction, that is, if it isn't clear that it's a option, it may be construed as an executory contract.

I used to design cabinets, so I simply sent them all of my pieces and parts and they ordered.

@Mohit Arora to gain some piece of mind in this same situation, I drafted a "Holding Deposit Agreement" document that is entered between the potential tenant and I.The purpose is to use the deposit to hold the rental until the lease signing and transition this Holding Deposit to a Security Deposit once the lease is signed and all other move-in funds are collected.You can message me privately and I can send you the doc I drafted.

If you're planning to buy and hold, then you'll have to check with the city and/or county to see what restrictions (if any) exist for that piece of land.

Looking at buying my first piece of property and finally found a condo I like in a great location, under budget but the HOA is stringent on rentals (all leases must be approved by HOA, approval process seems lengthy and min credit score is 700 FICO) should this be a deterrent for me in terms of buying this as rental property?

But it's tougher for STRs now, so anyone wanting their piece of the pie needs to bring their A game.