Hi Tobi, Do you have any previous ground-up construction experience?

The were clearly mansions at time of construct, and now converted small multi's all sec8. 

I do not appreciate basically being “fired” by my property manager because she was unable to handle firm and constructive feedback regarding the lack of HER communication and multiple mistakes by this company.

It’s especially advantageous that your construction costs are lower due to being a builder, which really boosts the overall profitability of the project.The numbers look strong, especially with a refinance at 5.9% the $24k net after expenses and $12k yearly pay down show a solid return, even with conservative estimates.

They might not always make the best decisions, resulting in failures, but some of those decisions were driven by bad data (whether from the borrower, appraiser, inspector, or whoever).  

Someone with a construction background can contribute their expertise and build at cost without markups or profit margin.

We have a builder in Charlotte that constructs multi family and the numbers are pretty good.

I purchased a new construction property and will be renting it out.  

In the area, we determined that the it would be a good mid term rental and started marketing it as a furnished rental especially with some of the construction and events going on throughout the year.

Purchase price: $10,000 Cash invested: $75,000 New construction, purchased a home in condemned form form being I could do repairs and wife could sale being her real estate firm What made you interested in investing in this type of deal?