Most investors that have tried to purchase an investment property recently have been shocked by how high prices have remained given the higher interest rates and growing negative economic news.

One way to save on the negative carry is to delay the purchase until the very end of permitting.

Yes, it appears we are aligned on the 11-month lease concept.

This creates a negative initial position.

I've had negative experiences with a bad general contractor and a non-paying renter (leading to an eviction), so I'm being extra cautious in selecting the right lender this time.Could anyone recommend a trustworthy lender in the Los Angeles area who can guide me through this difficult time?

It would simply sit in your passive bucket and rollover to future years, negating the benefit.

They're relatively inexpensive and will give you the background in real estate concepts that will speed up your ability to intake knowledge specific to tax liens and deeds. 

Despite rising interest from young families and institutional investors, the number of new SFR and BTR units is expected to decline sharply, from 34,000 in 2024 to just 9,500 in 2025, a 73% decrease.While demand remains, rent growth in this segment has turned negative, falling by 0.8% in Q2 2024 due to higher vacancies in 2023.

If you think of depreciation as a negative appreciation I think you get to the same place. 

@Albert Hasson no doubt any strategy you pick will have pros and cons, that's why most people never end up investing in real estate, they just focus on the negatives.