Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

FHA loans can be a good option here, allowing you to put down a lower down payment.## NetworkingNetworking is key in real estate investing.

When your LLC takes a loan, expect as members to personally guarantee the debt.

You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

I got approved for a HELOAN on my primary property but not sure if I should take the loan to just use as “leverage/reserves” to show the HML and get funded.

So I told the old owner I will trade you the house and landbank the loan..

Since you will be renting it out you should get a conventional loan.

That would minimize and maybe eliminate the need for a loan for those properties.

A $240k loan amount on a $249k purchase price seems crazy and I'd never expect to produce any net positive cash flow doing this.How are you calculating your property taxes?

it will be a corporate/wellness retreat/short term rental destinationI need land that is close to the Action, but not too close, and preferably comes with two single family doors already built, so I can take advantage of Fannie Mae owner occupied loan and develop the rest of the land on my own and with private funding.Is Columbus a good market for this strategy?