There's lots of opportunities in developing neighborhoods, but also seems a bit saturated at the moment.Also, definitely budget security (remote control cameras, alarm system, etc.) for your properties, as there are a lot of people who occupy themselves by breaking into houses and stealing anything they can sell.Lastly, there are a ton of contractors looking for a quick buck.

While very lucrative - if you don't have enough reserves, it can really break the bank. 

These are all upfront soft costs before you break ground. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

However, they didn't insulate that building well so in winter residents consistently get heating bills over $200/mo. 

Carpet throughout (as Minnesota gets frigid in the winter) What was the outcome?

But here's the thing: communication within the GP team can make or break a deal.When information doesn’t flow smoothly between team members, it can lead to confusion—and even worse, miscommunication with external parties.

Let's break down a realistic timeline for building your REI business without burning out or risking your day job.  

Purchased a little too high at the buy (I knew it at the time too), does a little better than breaking even on cashflow, and took too long to rehab.

Assume break even cash flow while rented which includes a generous $600/mo repair fund. 

We have cold winters in northern NH.