That was recently lowered to 4.26 million, and even achieving that could be a struggle if mortgage rates don’t move sharply lower.The positive spin to all this is that every year we have existing home sales below 5 million units is just “compressing the spring” further.

They can provide firsthand advice and potential solutions.SummaryLegal and Financial Consultation: Get professional advice from a real estate attorney and financial advisor.Negotiation with the City and Lender: Try to negotiate terms that provide relief or feasible solutions for compliance and loan terms.Exploring Financial Options: Consider new financing, partnerships, and investment opportunities to raise the necessary capital.Community and Industry Support: Leverage the experience and advice of others in the real estate community.Each step should be carefully considered, and professional advice tailored to your friend’s specific situation is crucial.

(These averages represent state-level; individual cities may levy additional taxes.)To achieve the same level of cash flow as a property in Nevada, you would need to generate a higher cash flow in Texas and Florida to offset the higher operating costs.Texas: The property must generate $5,752 ($9,256 - $3,504) more cash flow annually to compensate for the higher operating costs in Texas.Florida: The property must generate $2,343 ($5847 - $3,504) more cash annually to compensate for the higher operating costs in Florida.Overhead costs can have a large impact on cash flow.A Process For Selecting an Investment CityThere are too many potential cities to evaluate each one.

Consider FHA loans for lower down payments, but remember, the key is to find properties where the rental income covers your mortgage and expenses, ensuring positive cash flow (although in Austin is will be hard, but not impossible, to accomplish)Aiming for five properties in five years is very ambitious but achievable with the right strategy.

Hey Michael, I do think that you can achieve a lot with the 400K, I would recommend for you to build a team in place for whatever city you are investing in and go from there.

Considering this is the outcome of a foreclosure, achieving this strategy would compress the timeline and save on legal expenses.

Are you wanting to lever to achieve a greater expected return or because you can't accept that loss?

He typically achieves good return on his efforts but I do not believe I ever saw/heard his final numbers of this effort.  

@Tammy Garst there is a specific, detailed study report you would need to achieve financing of such project, and generally city/county approvals on build. 

Others play hide & seek games with their intentions.If you're interested in the Detroit market, DM us. 100% agreed with Drew.Most will have an ulterior motive so stay very diligent.Best advice I could give for investing long distance is to not do it lolI moved from Australia to the US in pursuit of real estate.I suggest the same for others that are looking to make real estate investing a "real thing".Easier said than done just packing up and moving to a lame town just for real estate so I get it...But certain sacrifices need to be made if one wants to achieve certain success.Just my opinion."