I just did this with a 4/3 new build out in Cape Coral and a construction to perm loan through the bank.

Because of illiquidity and the fact that it was in default and a foreclosure sale was scheduled, it was valued at $21K.

A tip would be knowing The number of doors you qualify for from a lender, And then looking at financial statements from places a little smaller and a little bigger.

On paper, it looked brilliant..cheap money, quick turnaround, and a profit projection that made his eyes light up.It taught me that the real risk isn’t just the cost of capital, it’s the predictabilty of your exit strategy.

It’s been a wild ride—full of challenges, lessons, and a few big wins that made it all worth it.

I was going through the rent control laws ( I know, should have done that before purchasing the property ), and a section stands out. https://ecode360.com/30526708#42037155Based on what I can read, the rent control chapter doesn't apply to: Dwellings of three and four units, at least one of which is occupied by one or more of the owners thereof.My understanding is that rent control doesn't apply to owner-occupied multi-units. 

And as I say it here, it feels like an excuse...... 

What makes this so dangerous is that some of these 10 deadly sins are quite ambiguous and a matter of interpretation.

I have STR investors in Florida making 25% cash on cash returns, long term rental investors picking up properties directly off the MLS and cash flowing day 1 in various states, and house hackers completely removing their housing payment from the picture allowing them to save for for the next property.The beautiful thing about real estate is there are so many ways to succeed and a plethora of strategies depending on your comfort level and how active you want to be.

Quote from @James Bolt: Good morning all,I'm Jim Bolt and a new investor.