This deal included a a older home and a mobile home each with a separate septic tank and county water.

Quote from @Henry Edeh: Hello everyone,I’m new to real estate and recently purchased my first home in Little Rock, Arkansas.

I want to be able to do a cash deal to get a lower price and avoid all the cost that go along with a lot loan, fees, points, etc.

houston is probably similar pricing to Columbus Ohio but way worse zoning laws. we take 20% on top as a GC and a guaranteed fee agreement. our contracted new construction projects recently:Single family new build spec home: 1513 square feet with 3 beds 2.5 baths 1 car attached $275000 approx $182 a square foot if calculated using heated square feet which means our cost is $145 a square foot. 3 unit / triplex new construction: 2008 square feet 2 bedrooms 1 bath per unit or total 6 bedrooms 3 bathrooms with 3 off street parking spaces. contracted build cost $395,000. no garage on this and better economies of scale with shared roof, slab, etc. $192 a square foot hard cost with our cost running approximately $157 a square foot. 

Conventional loan with a 20% down payment.

It’s their home.

I'd need the interest rate to be roughly 5% to breakeven on an interest-only loan, and was considering a balloon payment in 5-7 years.

My short term goal(s) in the next few years are to have 4-5 properties (long term), as well as a multi family home.

•Homes that accommodate more guests (more beds, larger spaces) tend to perform better, but they may also experience slow seasons.

Through a hard money lender, but I will take out a DSCR loan in March to refinance.