@Shelby Ek Do you need to activate the utilities in order to qualify for the loan you are getting?

Given the abatement option could you continue to occupy 15% of the building with commercial tenants while the rest of the building is converted or is that a logistical nightmare/ideally are you seeking different long term commercial tenants if you go that route? 

In general, south of the river has more going on in terms of arts, culture, and weekend activities.

Here’s why and what alternatives might exist:Real Estate Syndication or Fund: Invest in funds that generate passive rental income, which can offset Schedule E losses.Real Estate Professional (REPS): Qualify for REPS to reclassify rental losses as non-passive, allowing them to offset active income.This post does not create a CPA-Client relationship.

If it’s rental property do you seek amenities in the locaton or that doesn’t matter.

The challenge for many of us seeking to replace our W2 income is coming into it with a serious financial deficit: bad or no credit, little or no savings (left after the crash, unemployment, divorce, health issues, etc. or any combination there of), sparse personal network, ...

@Jon AveretteGreat to see that you’re from Tuscaloosa—I’m active in the area as well!

Do I give up access to transportation, restaurants, cultural activities, doctors, emergency medical care, religious and business activities, vet care and maybe more, to live in the country on my ranch or on the beach in a beautiful country, or do I keep access to all those things and live in the city? 

Quote from @Henry Clark: Quote from @Greg Scott: I have invested in over 50 syndications, of which about 45 are still active.  

Using your first property as collateral could help reduce the cash you need upfront, but it’s essential to weigh the risks and it's not really recommended specially if this will be your first.I recommend focusing on building reserves or seeking partnerships to fund flips.