Key lessons learned: use a cost-per-square-foot estimate from previous projects rather than relying solely on GC quotes, as they often underbid but end up costing more in the long run.The property is under a 2-year lease at $1,750/month.

McFarland rental rates will be very similar to Madison - probably $100 less on rent for a similar home (unless you're talking about downtown Madison or certain trendy neighborhoods).

You can spend $1,000 and save a lot of time and filtering garbage, or you save $1,000 but spend a lot of time filtering through many resources of garbage.At the end of the day, like any guru course or even a college degree: you will hopefully learn something.  

Single, college aged or not, I wouldn't even consider paying for a place with no means to shower.

I learned my lesson from the last one.

pick a market this way.a place you used to live in, or went to college in, or have family, or like to vacation in, or know really well.also: consider investing closer to where you live. 

And many noobs who want to hit a home run right away without “planting that tree” and willing to wait several years will get a hard lesson on the reality of what we’re dealing with.

Lessons learned?

In my mind, we've run a few scenarios - primarily airbnb, multi-family, college towns - but really not sure where or how to start.  

I graduated college with a double major in finance and real estate.