You're better off focusing on specific markets, specific neighborhoods, analyzing numbers, and building an ideal buy [box].

I believe he shouldn't have let you buy this building unless you fully knw what you are getting yourself into.

I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.

Investment Info:Single-family residence buy & hold investment.

You can make more through co-living in most markets, but still likely to be better off house hacking 1 / year and then buy out of state with your extra cash.If you want to chat strategy with someone - feel free to PM me or reach out to contact info in my bio!

I've helped people with SBA loans to purchase real estate for a business, but for buying rental real estate, the DSCR loan is a much better option.

It seems like there are so many limitations to buying real estate with self-directed IRAs. 

Quote from @Devin James: In one of our development projects, the City staff asked us to remove 40 units from our concept plan.This wasn’t requested by the City Commission at a formal hearing, it was the opinion of the staff.Our original concept already proposed fewer units than the current zoning would have allowed.Here’s what erasing 40 units means:- 40 fewer homes for buyers- Over $1M in lost profit for our team- Fewer tax dollars and impact fees that could’ve benefited the City’s infrastructure & servicesWe gotta get betterEveryone wants more affordable housing, but not everyone wants to do what it takes to achieve it we never listen to the recommending bodies. we move for city approvals and work closely. the other thing we do is keep going back to the same groups over and over and over and over every month on the same agenda and make very small reductions like 2% or 4% and that reduces and beats them down eventually they accept what you want. it's just before beating a dead horse. we keep tabling until they give us something we all agree on then we go to vote. in our city in columbus we have to get recommendations but that's our strategy. we used to come out as aggressive as possible. we typically study developments in the area and keep it very similar in terms of density. we have a track record of very controversial projects and litigation and not taking no as an answer. after a year of that haha I can tell you it's not worth it. now we are more relationship based and buying the right kinds of plots of land. if the numbers don't work on the front end don't do the development. 

Michael,   A good book to purchase is "Professional Real Estate Development: The ULI guide to Business.   

I have no prior investment experience but after living in Paraguay, and reading some books about real estate investments, I think I'm ready to buy my first property.