I am looking at some very nice properties in playa del carmen, and a luxury 1br  1ba can be as inexpensive as 50k.

Libs, Fishtown, south Philly, Brewerytown, outskirts of U-City), buy and hold markets (Olney, Strawberry Mansion, Germantown, Cobbs) and then the neighborhoods that function as both flip and rentals (which usually means the BRRR gold mine reigons) like Cedar Park, Sharswood, Port Richmond, E.

I am keeping as a luxury rental building.

"Buy basics and lease luxuries."

If I was determined to follow my expensive dream like this (maybe think of it in terms of wanting to buy an expensive luxury item like a boat or a car) then I would put off acquiring it until I have built a better base of income and savings.

Hello BP members,What is the best advise you can give:Very close to retirement.Have a net worth of $1 ml.Can't do physical work and shouldn't have too much stress.Specialized in luxury high end condo building (residential) and have done remodeling.How about HML?

When discussing Allure, I wish we could refer to WHICH Allure flooring we mean.Allure Ultra or the regular Allure with the adhesive.

Make sure the property is properly marketed with the correct luxury realtor from the beginning of planning - your interior designer will need to be on top of the market's preferences.

It's important to figure out what your business strategy is, and what your value-add proposition is.I know that folks have been successful in each one of these niches in Philly real estate, just depends on what you are looking to do (in no particular order and just off the top of my head, I'm sure that I'm leaving a bunch out): low-income rentals, luxury rentals, flips, vacant land speculation, new construction, section 8/PHA rentals, wholesaling, wholetailing, bird dogging, turn key sales, property management, construction management, financing expert, zoning expert, title expert, business procedure consulting, hard money lending, seller financing, buying subject-to, syndicating deals, 1031 exchange scout, retail sales, etc.Personally, I've set up a pretty decent rental portfolio over the last few years, that's what made sense for my investing goals and setup. 

When I first got in there was tons of agents that immediately went for the luxury market or primarily flippers etc.